Islamic finance used in leveraged buy out of Aston Martin
The leveraged buy out will be arranged by the German bank WestLB and will be using Shari'ah-compliant financing because two of the largest financial backers, The Investment Dar and Adeem Investment Country are Islamic financial institutions. The press release from Aston Martin on The Investment Dar website did not mention the planned Shari'ah-compliant nature of the financing.
Credit Suisse offers Shari'ah-compliant products
Credit Suisse announced that it will expand its product offering to include more Shari'ah-compliant products, announced the global head of Credit Suisse Islamic investments Fares Murad.
Pakistani Islamic banking
Islamic banks want the deferment of unrealized murabaha income tax changed. The State Bank of Pakistan, the Pakistani central bank, will allow Islamic banks to offer more Islamic banking products.
The State Bank of Pakistan has also issued licenses to four microfinancing institutions, although they are not mentioned as being Shari'ah compliant. The state-run microfinance institution Khushalibank does not indicate on its website that it is Shari'ah compliant, so my assumption is that it is not.
Dubai Bank
Dubai Bank, a newly Shari'ah-compliant bank in Dubai, will expand its product offering of Shari'ah-compliant financing. The bank became Shari'ah-compliant on January 1, 2007.
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