Monday, February 19, 2007

GCC Islamic banks, new conferences, Islamic Trade Finance Corporation launch

GCC-area Islamic bank

Al Salam Bank Bahrain announced plans to start a real estate company. The bank also announced plans to expand its operations in Algeria and Sudan. Al Salam Bank has operated in Sudan since 2005.

Deyaar, the real estate subsidiary of Dubai Islamic Bank has increased its capital by 56 percent (to DH1.56 billion [$425 million]).

Islamic finance conferences

The 1st Annual World Islamic Finance & Investment Conference will be held in Kuwait from March 4-5, 2007. The conference, "Capitalising on Emerging International & Regional Growth Opportunities", will focus on the impact of the industry's growth, regionalization and the emergence of larger banks affects the industry.

The 12th Annual International Islamic Finance Forum (IIFF) will be held in Dubai from April 2-5, 2007. It will focus on a recent report released by KPMG and strategies of growth & diversification. The KPMG reports on Islamic finance are available online.

These conferences, as well as a newly announced conference in Geneva, Switzerland in April 2007, are listed on the Institute of Halal Investing's Conference page.

IDB launches ITFC

The Islamic Development Bank (IDB) will launch an Islamic Trade Finance Corporation (ITFC) on February 24. The focus of the ITFC is to encourage trade between members of the Organization of the Islamic Conference

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