Iranian Bank Mellat appealed against a decision upholding measures taken by the Treasury to restrict its access to the UK financial market. The Treasury had directed that all persons operating in the UK financial sector were prohibited from having any …
<p>Takaful insurance has struggled to find traction in the UK. Despite this, this year has seen several Shariah?compliant products launch in the UK. Faithsure and in May, XL Group began providing Shariah-compliant products for large corporates on a global basis. However, the lack of takaful players could be due to the industry’s youth and stiff competition in personal lines of insurance business according to analysts. Sheikh Bilal Khan, sharia scholar at law firm Linklaters, believes there is potential for Takaful products if they are branded and marketed correctly. But the lack of state regulation on sharia-compliant products creates a real lack of trust in the market, he adds. Yet perhaps the demand among Muslim?run SMEs is where the true potential lies. Faithsure's Asif Khan certainly seems to think so. He's confident that Muslim businesses would not only be aware of Takaful insurance but also actively opt for it.</p>
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<p><a href="http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH2VAGJfVdAYuoRdag4DPdt9RVi0Q&url=http://www.postonline.co.uk/post/analysis/2277115/takaful-the-islamic-state" title="http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH2VAGJfVdAYuoRdag4DPdt9RVi0Q&url=http://www.postonline.co.uk/post/analysis/2277115/takaful-the-islamic-state">http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH2VAGJfVdAYuoRdag4DP…</a></p>
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<p>Takaful insurance has struggled to find traction in the UK. Despite this, this year has seen several Shariah?compliant products launch in the UK. Faithsure and in May, XL Group began providing Shariah-compliant products for large corporates on a global basis. However, the lack of takaful players could be due to the industry’s youth and stiff competition in personal lines of insurance business according to analysts. Sheikh Bilal Khan, sharia scholar at law firm Linklaters, believes there is potential for Takaful products if they are branded and marketed correctly. But the lack of state regulation on sharia-compliant products creates a real lack of trust in the market, he adds. Yet perhaps the demand among Muslim?run SMEs is where the true potential lies. Faithsure's Asif Khan certainly seems to think so. He's confident that Muslim businesses would not only be aware of Takaful insurance but also actively opt for it.</p>
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<p><a href="http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH2VAGJfVdAYuoRdag4DPdt9RVi0Q&url=http://www.postonline.co.uk/post/analysis/2277115/takaful-the-islamic-state" title="http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH2VAGJfVdAYuoRdag4DPdt9RVi0Q&url=http://www.postonline.co.uk/post/analysis/2277115/takaful-the-islamic-state">http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH2VAGJfVdAYuoRdag4DP…</a></p>
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<p>Takaful insurance has struggled to find traction in the UK. Despite this, this year has seen several Shariah?compliant products launch in the UK. Faithsure and in May, XL Group began providing Shariah-compliant products for large corporates on a global basis. However, the lack of takaful players could be due to the industry’s youth and stiff competition in personal lines of insurance business according to analysts. Sheikh Bilal Khan, sharia scholar at law firm Linklaters, believes there is potential for Takaful products if they are branded and marketed correctly. But the lack of state regulation on sharia-compliant products creates a real lack of trust in the market, he adds. Yet perhaps the demand among Muslim?run SMEs is where the true potential lies. Faithsure's Asif Khan certainly seems to think so. He's confident that Muslim businesses would not only be aware of Takaful insurance but also actively opt for it.</p>
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<p><a href="http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH2VAGJfVdAYuoRdag4DPdt9RVi0Q&url=http://www.postonline.co.uk/post/analysis/2277115/takaful-the-islamic-state" title="http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH2VAGJfVdAYuoRdag4DPdt9RVi0Q&url=http://www.postonline.co.uk/post/analysis/2277115/takaful-the-islamic-state">http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNH2VAGJfVdAYuoRdag4DP…</a></p>
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<p>Barwa Bank’s investment banking division, The First Investor (TFI) and Investra Investments have announced the first two property acquisitions of their UK joint venture fund. The fund invests in income-generating property in the distribution, logistics and light-industrial sector of the UK, targeting net quarterly dividends of 7%-9% per annum and capital appreciation over three years. Both TFI and Investra have seeded the fund with approximately QR56mn capital from their respective balance sheets. TFI and Investra have put together an institutional grade investment programme in collaboration with Pelham Associates as well as internationally renowned lawyers, tax advisors and administrators to deliver best in class governance, investment management and risk management. TFI and Investra will be continuing their investment programme in the UK distribution, logistics and light-industrial sector until Q1, 2014.</p>
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<p><a href="http://www.gulf-times.com/business/191/details/357817/tfi%E2%80%99s-shariah-jv-fund-acquires-properties-in-uk" title="http://www.gulf-times.com/business/191/details/357817/tfi%E2%80%99s-shariah-jv-fund-acquires-properties-in-uk">http://www.gulf-times.com/business/191/details/357817/tfi%E2%80%99s-shar…</a></p>
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London-based Gatehouse Bank is considering applying for two or three licences in Malaysia in universal banking, investment banking, and or, wealth management to expand its business in Asia. The bank, which recently commenced operations in Malaysia via …
Aston Martin has confirmed that the Investindustrial partnership has been completed. The deal brings £150m of investment in the form of a capital increase. The investment underpins a significant new product development programme of more than half a billion pounds over the next five years. Aston Martin production will remain at the luxury British marque’s global headquarters at Gaydon in Warwickshire, a purpose-built facility where the current range of sports cars is assembled. Details of this year’s first quarter results will be announced to bondholders later in May.
Insurance major XL Group and Islamic specialist Cobalt underwriters will offer sharia-compliant insurance for companies buying commercial property, paving the way for Islamic investors to tap London’s subscription-based insurance market for the first time. The new offering will allow multiple insurers to take part in Islamic insurance deals, adding scale to the fledgling sharia-compliant insurance industry in the UK. Under Islamic insurance, premiums are reflected as contributions, capital is segregated from the participants’ funds and there is transparency on cost. It’s necessary to abide by the scholars’ principles on how things should be structured.
Prime Minister David Cameron is looking to Southeast Asia to boost the UK’s role in Islamic finance. It’s the Bank of England he needs to convince first, say Shariah-compliant lenders based in Britain. Central bank rules require lenders to hold easy-to-sell assets as protection against short-term funding shocks. Most are off-limits for Islamic banks because they pay interest. Cameron visited Malaysia last year to build on a pact to promote bilateral engagement in the industry and created an Islamic Finance Task Force in March. Britain’s six Shariah-compliant lenders will struggle to grow unless regulators adapt bank liquidity rules or highly rated borrowers issue sukuk in pounds.
Simply Sharia Human Capital (SSHC) is now offering the Islamic Finance Qualification (IFQ) in collaboration with the Shariyah Review Bureau (SRB). The SRB-SSHC partnership will deliver the internationally recognised and UK-certified IFQ across the Gulf…
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