Qatar is in a good position to face future challenges due to its economic and business diversification. The emirate is member of several economic and commercial agreements and organizations, and has been engaged in trade and investment negotiations wit…
Civil proceedings against former UM Financial CEO Omar Kalair and his associates have come to a close since prospects for recovery of expropriated money are limited even in case of a favorable judgment. However, the Royal Canadian Mounted Police and Of…
The takeover of Leeds United Football Club by GFH Capital raised disputes on the level of Shari’ah compliance associated with the deal. A statement by David Haigh, deputy chief executive officer and chief operating officer of GFH Capital, stumbled up…
Property giant Limitless has made a deal to to restructure $1.2bn (Dh4.4bn) of Shari’ah compliant debt with its lenders. The syndicate was established in 2008 and was originally due in 2010. Because of the restructuring, the company’s ownership will…
Solar Guys, an Australian solar company, is installing a 50MW solar facility in Indonesia, the money for which is gained through sukuk. The project is part of a larger solar energy plan – a 250MW plan titled “one solar watt per person”. Solar energy is…
In accordance with his tendency to use his fortune to solve global problems of the world’s underprivileged, Bill Gates has turned to Islamic Development Bank (IDB). The Bill and Melinda Gates Foundation has signed an MOU with IDB which aims to fight …
According to GFH Capital, it wants to buy the football club Leeds for itself and is not acting on behalf of a third party. The bank plans to acquire all 100% of Leeds City Holdings Limited’s equity in an all-cash deal. In case of a successful bid, the…
The educational system provides numerous young specialists in Islamic finance, however, they are hardly able to find a job. According to a UAE senior Islamic banker, one of the main problems in the industry lies in the lack of suitable graduate trainin…
After a period of silence, International Islamic Liquidity Management Corporation (IILM) announced that it was 85% ready to use between $300m and $500m for the issuance of US dollar Ijara Sukuk. The corporation is backed up by sovereign assets of its m…
Safa Investment Services is going to launch world’s first Islamic global asset management company due to growing demand from wealthy Muslim investors that are seeking a dedicated asset manager to look at their investments.
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