Wednesday, March 07, 2007

Islamic finance website for the U.K., no committee for Indian Islamic bank, EON Capital ups offer

Website launched on Shari'ah-compliant products in the U.K.

A new website was recently launched offering information about Islamic financial products in the U.K. The site, The site will offer specific information about different products (and advertising of these products) starting in July 2007. Currently the site is primarily a library of basic information about Islamic finance.

No decision on Indian Islamic bank

The discussion earlier this year about starting an Islamic bank in India has still not led to a committee forming to decide the feasibility of creating an Islamic bank in the country.

EON Capital ups offer for RHB

In a sign that the bidding war over Rashid Hussain Bhd could last much longer than it has already, EON Capital announced it was increasing its offer for RHB and RHB Capital. This announcement follows news yesterday that Employers Provident Fund, which owns 31 percent of RHB, entered the bidding for Utama Banking Group's 32.8 stake in RHB. The other company involved in the bidding is Kuwait Finance House which has made a bid for the Utama stake in RHB.

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