Thursday, November 16, 2006

Malaysian takaful industry

"Takaful industry on track to achieve 20% growth this year", The Edge Daily, November 16, 2006

According to the Malaysian Takaful Association chairman Md Azmi Abu Bakar, the takaful and retakaful (Shari'ah-compliant insurance) industries in Malaysia are on track to grow by 20 percent in 2006. The takaful and retakaful industries had a 5.4 percent share of the market in 2005 and are aiming to meet the central bank's, Bank Negara Malaysia, target of 20 percent of the market by 2010. The announcement was made at a media briefing relating to the upcoming 2nd International Convention on Takaful and Retakaful being held November 22-23, 2006 in Kuala Lumpur, Malaysia. A link to the conference website is available from the IHI's Conference listing.

Islamic finance in Turkey

"Islamic Finance Transactions in Turkey", Mondaq, November 16, 2006

A brief description of Islamic finance and the Turkish Islamic financial industry.

Citigroup arranging $1bn musharaka loan

"UPDATE 1-Citigroup arranging UAE Emaar's $1 bln Islamic loan", Reuters, November 16, 2006

The $1 billion loan will be structured as a musharaka (profit-and-loss sharing) deal. Emaar Properties, is a Dubai-based real estate company.

IIFF, Europe

"Sanad Sukuk Fund launched in Zurich", AMEinfo, November 16, 2006

As had been announced previously, Sanad Sukuk Fund, a GCC oriented sukuk fund was launched today at the International Islamic Finance Forum, Europe in Zurich, Switzerland.

Muslim Community Co-operative (Australia) Ltd

"Muslim Community Co-operative (Australia) Ltd Honoured in the 2006 Australian Business Awards", PR Newswire, November 16, 2006

The Muslim Community Co-operative (Australia) Ltd. received SME awards in the categories of Enterprise and Community Contribution. The company offers Islamic financial products including mortgages, ijara and qard hassan.

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