Friday, July 13, 2007

Islamic mega-bank and real estate fund

Shari'ah-scholar Nizam Yaquby believes that the Islamic finance industry needs a mega-Islamic bank because "IFIs do not cooperate and no collective efforts are seen at the institutional or regulatory levels to formulate a strategy on developing liquidity management tools".

Kuwait Finance House (Malaysia) and AmanahRaya Investment Bank will start an Islamic real estate fund called Al-Nibras. the investments will be in Malaysia, Singapore, Thailand & China.

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