Tuesday, June 26, 2007

New takaful products, LLB announces first Islamic ETF

CIMB takaful expects RM1 billion ($290 million) after it rolled out three new products.

Liechtensteinische Landesbank (Switzerland) Ltd. (LLB) launched the first Islamic Exchange Traded Funds (ETF), which are linked to the performance of the LLB Hilal Indices. "The LLB Hilal Indices provide a transparent benchmark for Shariah-compliant investors who wish to gain exposure to the "Islamic Crescent Region (or "Islamic Hilal"), a moon-shaped geographic area spanning from Morocco to Indonesia, including Turkey and Pakistan."

Dar al Istithmar lost it's Islamic economist and six or seven other staff members to BMB Group.

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