Boubyan Bank, a Kuwait-based bank announced plans to launch the first Shari'ah-compliant real estate financing fund in Japan. The fund will be called the Boubyan Global Real Estate Fund.
Malaysia hopes that new measures introduced today will make the Islamic financial industry more dynamic. The measure highlighted in the article from Bernama, the Malaysian National News Agency, requires all Islamic financial institutions in the country to have full-time Shari'ah experts to ensure that operations of the institutions complies with the Shari'ah standards set by the national Shari'ah advisory council.
The World Islamic Banking Competitiveness Report 2007/08 will be released next month in Bahrain. The report will be compiled with assistance from international consulting firm McKinsey.