The Inland Revenue and Stamp Duty Legislation (Alternative Bond Schemes) (Amendment) Ordinance is a new piece of legislation, introduced in Hong Kong. This law, which puts the taxation of sukuk on a level footing with conventional bonds in Hong Kong, m…
Jaiz Bank Plc has joined other commercial banks in processing of foreign exchange transactions. This allows the bank to process forex transactions for eligible bureau de change (BDC) operators at the Central Bank of Nigeria (CBN). The bank will reporte…
Citigroup is the third largest bond underwriter in the Gulf region this year, up from fourth a year earlier and 19th in 2011. It’s also the fourth-largest arranger of syndicated loans, up from 11th last year....
The stock of outstanding GCC fixed income instruments rose to $239.8 billion in the first six months of this year. The largest debtors are the Qatari public sector (23 per cent), the UAE financial sector (16 per cent) and the UAE public sector (15 per …
<p>Laws, legislative rules and regulations governing Islamic bonds will be implemented as planned, as part of government efforts to revive the economy, according to Egyptian Finance Minister Ahmed Galal. However, he refused to say who would assume the role of Chairman of the Islamic Bonds Division within the ministry, after the sacking of previous chairman Ahmed Al-Nagar. Ahmed Al-Gabali, Advisor to the Minister on Islamic Bonds, is reportedly interested in the position but will need to be made aware of the nature of the job before applying. Galal previously published a decision to dispose of a number of legal advisors and chairmen of financial units due to their affiliation with the Muslim Brotherhood, among them Ahmed Al-Nagar, previous Chairman of the Ministry of Finance’s Islamic Bonds División.</p>
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<p><a href="http://www.dailynewsegypt.com/2013/08/12/finance-minister-laws-and-regulations-governing-islamic-bonds-set-to-continue/" title="http://www.dailynewsegypt.com/2013/08/12/finance-minister-laws-and-regulations-governing-islamic-bonds-set-to-continue/">http://www.dailynewsegypt.com/2013/08/12/finance-minister-laws-and-regul…</a></p>
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According to Mr. Darkhan Nurpeissov, Vice Chairman of the Agency regulating the Regional Financial Center of Almaty (RFCA), Almaty is to be transformed into a global center of Islamic finance by 2015-2020. By 2012-2015 it is planned to put in place inf…
<p>Le conseil d’administration de la société « El Wifack Leasing » a déposé auprès de la Banque centrale de Tunisie (BCT) une demande d’agrément pour la transformation de la société en Banque islamique universelle. Dans un communiqué publié sur le site du Conseil du marché financier (CMF), la même source souligne que l’instruction du dossier d’agrément demeure encore au stade initial et que le conseil d’administration de la société El Wifack Leasing ne peut s’exprimer jusque là sur les issues potentielles que peut prendre cette demande. A défaut d’obtention de l’agrément, la société continuera à développer son activité et lancera sa deuxième tranche d’augmentation de capital, a avancé El Wifack Leasing.</p>
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<p><a href="http://directinfo.webmanagercenter.com/2013/08/11/el-wifack-leasing-veut-se-transformer-en-banque-islamique/" title="http://directinfo.webmanagercenter.com/2013/08/11/el-wifack-leasing-veut-se-transformer-en-banque-islamique/">http://directinfo.webmanagercenter.com/2013/08/11/el-wifack-leasing-veut…</a></p>
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<p>Le conseil d’administration de la société « El Wifack Leasing » a déposé auprès de la Banque centrale de Tunisie (BCT) une demande d’agrément pour la transformation de la société en Banque islamique universelle. Dans un communiqué publié sur le site du Conseil du marché financier (CMF), la même source souligne que l’instruction du dossier d’agrément demeure encore au stade initial et que le conseil d’administration de la société El Wifack Leasing ne peut s’exprimer jusque là sur les issues potentielles que peut prendre cette demande. A défaut d’obtention de l’agrément, la société continuera à développer son activité et lancera sa deuxième tranche d’augmentation de capital, a avancé El Wifack Leasing.</p>
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<p><a href="http://directinfo.webmanagercenter.com/2013/08/11/el-wifack-leasing-veut-se-transformer-en-banque-islamique/" title="http://directinfo.webmanagercenter.com/2013/08/11/el-wifack-leasing-veut-se-transformer-en-banque-islamique/">http://directinfo.webmanagercenter.com/2013/08/11/el-wifack-leasing-veut…</a></p>
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<p>Pakistan will reportedly receive 250 million Euros from the Islamic Development Bank (IDB) in the ongoing month of August, which is part of 750 million Euros loan. Similarly, the country will also avail the trade facility of $150 million for import of fertilizer and Petroleum products this month. The Islamic Development Bank had agreed to the loan and the trade facility in a meeting between the President of the Islamic Development Bank, Dr. Ahmed Muhammad Ali, and Pakistan’s Finance Minister Senator Ishaq Dar in Jeddah last week. Pakistan will also receive $500 million from Asian Development Bank and $500 million from World Bank in the second half (January-June) of the ongoing financial year 2013-14. Moreover, Pakistan is expecting to receive $3.4 billion from IMF during the current financial year. The loans will help building the foreign exchange reserves, which are currently around $10.25 billion.</p>
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<p><a href="http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/business/09-Aug-2013/idb-gives-pakistan-250m-euro" title="http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/business/09-Aug-2013/idb-gives-pakistan-250m-euro">http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/bu…</a></p>
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<p>Pakistan will reportedly receive 250 million Euros from the Islamic Development Bank (IDB) in the ongoing month of August, which is part of 750 million Euros loan. Similarly, the country will also avail the trade facility of $150 million for import of fertilizer and Petroleum products this month. The Islamic Development Bank had agreed to the loan and the trade facility in a meeting between the President of the Islamic Development Bank, Dr. Ahmed Muhammad Ali, and Pakistan’s Finance Minister Senator Ishaq Dar in Jeddah last week. Pakistan will also receive $500 million from Asian Development Bank and $500 million from World Bank in the second half (January-June) of the ongoing financial year 2013-14. Moreover, Pakistan is expecting to receive $3.4 billion from IMF during the current financial year. The loans will help building the foreign exchange reserves, which are currently around $10.25 billion.</p>
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<p><a href="http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/business/09-Aug-2013/idb-gives-pakistan-250m-euro" title="http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/business/09-Aug-2013/idb-gives-pakistan-250m-euro">http://www.nation.com.pk/pakistan-news-newspaper-daily-english-online/bu…</a></p>
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