Singaporean renewable energy company Agni Inc plans on issuing a ringgit-denominated ijara sukuk to test the sukuk market.
South Korea Financial Supervisory Service governor says the country should explore using Islamic finance to attract capital.
Although 2008 was an extremely rough year in the financial markets, including Islamic finance, 2009 should see some recovery although other reports, like the one from Standard & Poor's, predicts the sukuk market will only recover towards the end of 2009.
The Associated Press has an article about the University Islamic Financial Corp. in Ann Arbor, Michigan, which is one of a few Islamic financial institutions in the U.S., and the only one with a Shari'ah-compliant deposit product. An interesting part of the article is that two banks have communicated with the UIFC about helping expand its availability across the U.S. Only one bank, Comerica, is named.
Deutsche Bank launched a new platform they claim will enable Shari'ah-compliant money markets, as well as other securitized products. I have not done enough review of the product, but I would hope to be able to study it a little more and post on my new blog at Zawya.com. This will still be a more frequently updated blog, but topics I think deserve more substance will appear there.
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