Thursday, April 19, 2007

IIFF Europe to be held in Switzerland, new Islamic funds transfer system

IIFF Europe to be held in Switzerland

The International Islamic Finance Forum (IIFF) Europe will held in Switzerland from November 12-15, 2007. There are two cities, Geneva and Zurich, in one of which the IIFF will be held. The conference will focus on Shari'ah-compliant wealth management and private banking. The conference will be added to the IHI conference listings.

Funds transfer system begins between Saudi Arabia and Malaysia

Saudi-based Al Rajhi Bank which also operates in Malaysia has developed a funds transfer system between Malaysia and Saudi Arabia where a card would be purchased in Malaysia allowing withdrawals from Al Rajhi banks in Saudi Arabia. The system will be rolled out to other countries although Malaysia will remain as a hub.

Other news

Derivative technology is now being used with contracts like mudaraba and arboun to replicate swaps and options.

Maybank issues $300 million sukuk.

2 comments:

World Wealth said...

For more information on private banking and wealth management please visit http://www.worldwealth.info

ilanit said...

The world of Los Angeles private equity funds is a fairly rarefied world. The vast majority of these funds are organized as limited partnerships (LP) where the investors are principally institutional investors such as pension funds, banks, and high net worth individuals.The general partner (GP) identifies the opportunity, calls money from its lLP's (also called a drawdown or takedown) up to the amount committed and can do so at any point until the fund is liquidated. When an investment is liquidated, the GP distributes proceeds to the LP's in kind or in cash. The compensation from LPs to GP's consists of a management fee, plus a fraction of the profits called the carried interest.