Rushdi Siddiqui's latest article in Gulf News deals with Venture Capital, specifically the lack of it within Islamic fiannce. I wholeheartedly agree with him on that point.
Lahem al-Nasser of Asharq Al-Awsat has a dream for Islamic finance:
"I have a dream that one day Islamic financial institutions will operate based on the principle of partnership rather than debt in the sense that all parties would share both risk and profit. I have a dream that Islamic financial institutions will not base profit on usury that will cause them to be weak and fragile.
"I have a dream that one day Islamic financial institutions will have clear strategies to set up important development projects in their societies in a way that contributes to reducing unemployment, increasing productivity in society, improving technology and adopting and strengthening creative ideas. I have a dream that Islamic financial institutions will create genuine products rather than alternative ones through which they could change the conventional view of the financial institution. I have a dream that the joint Islamic financial market will be based on relying on its own tools away from imitating derivatives, bonds or other tools of Islamic banking.
[...]
"I have a dream that Islamic financial corporations will be able to convey Islam's civilized message to the world just as our merchant Muslim ancestors did. I have a dream that one day Muslim businessmen will make this dream come true.
Other News
- The government of Dubai formed a committee of creditors as we enter a week that will see the maturity of one of Nakheel's sukuk (Thursday).
- Malaysia may sell 10-year dollar-denominated bonds in June, although it was not specified whether these would be conventional bonds or sukuk.
- Emirates Steel is close to receiving $2 billion in loans, of which $1.5 billion is expected to come in the form of Islamic finance facilities. The closing is expected in June.
- An article describes the limited clarity in takaful that has hampered the industry's growth.
- Nomura International plc entered into a $50 million commodity murabaha transaction as its debut transaction in Islamic finance.
- The Islamic Development Bank is planning to boost cooperation with India, which is not an OIC member.
2 comments:
A monthly newsletter --nothing that overburdens you, but definitely your reads and insight is top notch, so materials and update that keeps folks up to date.
Best,
Samy
A weekly newsletter is better I think. It's not too pushy, yet it updates on a weekly basis. A monthly one will make it outdated by that time. A daily one is useful for market analysis, but since you are not writing everyday, a daily one is not recommended.
By the way, I don't know if you remember when I first added you on Linkedin, I told you about an Islamic finance website that I am putting together, and I am looking for "contributors" writing op-ed. I will send you a proposal in a couple of weeks to see if you might be interested... I can give you a sneak peak to what the website looks like through a Linkedin message.
Always a pleasure to read your posts!
Zied
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