Tuesday, March 20, 2007

Moroccan Islamic finance & other news

Islamic finance in Morocco

Morocco's central bank, Bank Al-Maghrib, will allow ijara, musharaka and murabaha products to be offered by banks in Morocco. A statement released by the Central Bank said Islamic finance will "allow a widening of banking services and contribute to a higher rate of banking in the economy"

Other News

Kuwait Global Investment House launches an Islamic fund. The $350 million fund will invest in "Gulf Arab companies that are compliant with with the Islamic sharia principles".

Dubai Islamic Bank aims to raise $800 million for an Islamic private equity fund to invest in energy & telecom projects.

Islamic finance will continue to rely on the Cayman Islands as a center for sukuk because of its light regulatory environment.

1 comment:

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