Category: ASIA

Parsoli chief alleges ‘harassment’ by SEBI

Parsoli chief alleges ‘harassment’ by SEBI

After the Securities and Exchange Board of India (SEBI) cancelled Ahmedabad-based Parsoli Corporation's registration as a stock broker, the CEO of the firm, Zafar Sareshwala, claimed that his company had exited the stock-broking business voluntarily in…

Cash Waqf gets popularity

Cash Waqf gets popularity

Cash Waqf is a voluntary endowment of money, deposited to the banks perpetually. Profit paid on this deposit is spent in different people's welfare purposes according to instructions of the account holders. These include education, health, food, utilit…

IILM to issue debut sukuk of USD490m in August

IILM to issue debut sukuk of USD490m in August

Malaysia-based International Islamic Liquidity Management Corp (IILM) will issue its long-awaited sukuk programme worth $490 million (RM1.6 million) this month, offering tenors of three months. The dollar-denominated sukuk programme, rated "A-1" by S&a…

UAE- Dream come true courtesy of Noor Islamic Bank

UAE- Dream come true courtesy of Noor Islamic Bank

<p>In September last year, Noor issued an invitation to the world to help shape the future of banking, with the launch of its Bank of the Future initiative, aimed at creating innovative ways of banking. As part of the initiative, Noor created an online Shape Your Bank competition to solicit people&rsquo;s expectations of banks in the future, with prize money of $20,000 for the best idea on enhancing the banking experience. Nurul Iksan from Malang, Indonesia, won the first prize in Noor&rsquo;s online competition. With the $20,000 in cash, plus an iPad he can begin pursuing some of his business ideas. He will use part of the money to open a fashion shop in nearby Bali. Iksan&rsquo;s suggestion was to introduce a family account that is held by the head of the family with supplementary cards and limited budgets assigned to all family members. Such a concept has not been implemented in the region yet.</p>
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<p><a href="http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2013/July/uaebusiness_July349.xml&amp;section=uaebusiness" title="http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2013/July/uaebusiness_July349.xml&amp;section=uaebusiness">http://www.khaleejtimes.com/biz/inside.asp?xfile=/data/uaebusiness/2013/…</a></p>
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ICIEC and The Bangladesh Bank sign MOU

ICIEC and The Bangladesh Bank sign MOU

The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and the Bangladesh Bank (The Central Bank of Bangladesh) signed a Memorandum of Understanding (MOU). The objective of the MOU is to establish a basis for the exchange of …