Mid-week update

• Malaysia will sell MYR3 billion (about $1 billion) in 30-year Islamic savings bonds this year.
  
• The BBC has a piece on the growth in Islamic finance.
  
• The wealthiest Muslims did not embrace Islamic finance, but in the wake of the credit crisis, Islamic wealth managers think they could shift their assets towards Shari'ah-compliant investments to reduce their risk exposure and protect their assets.
  
• Amiri Capital is launching their Islamic hedge fund-of-funds. The launch was delayed when Lehman Brothers, the original partner in the effort, went bust.
  
• The merger of Amlak and Tamweel, the two troubled Dubai Islamic mortgage companies, could be completed this summer. A decision on the structure of the merger is expected "soon".
  
• Seven people were charged in a fraud that involved receiving financing for fictional projects and companies from Dubai Islamic Bank and alleged kickbacks. Dubai Islamic Bank issued a statement on the investig.