:: Al Huda :: Islamic Banking & finance news


	One day SECP Conference on Takaful Sheraton Karachi.
	SECP is very keen in development of Takaful in Pakistan- Razi-ur-Rehman Khan, Chairman SECP The delegates from Pakistan, UAE, Malaysia, Qatar, Egypt, Kuwait & Singapore attend the Conference. The Conference highly appreciated by Govt. Level, Insurance, and Banking Industry. Islamic Banking and Finance News was the Media Partner of SECP in this event
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	Pakistan as Emerging Market
Exclusive of IBF News: WAPDA finalized to give mandate to DIB, NBP, SCB & FCIB for next Sukuk Issue. SBP advised the Islamic Banking Institutions to submit product details before March 31, 2007 Chairman of Emirate Global Islamic Bank meets with Shukat Aziz. SBP proposes 10-year framework for IFSI development Kamran Shahzad has become third Managing Director of SBP-BSC Islamic banks assets grow to Rs 118.18 billion and deposit Rs. 83,742 billion. Meezan Bank profit ups & Revised weightages for Dollar Mudarabah Certificate BankIslami signs ORIX network for '1 Card' Emirates Global Islamic Bank has been launched with Six Branches. NBP earned 17.02, MCB – 12.14, UBL – 9.47, ABL – 4.39, BOP – 3.80, Faysal Bank – 2.82, ACBL – 2.25, HMB – 2.09, BAL – 1.76, Bank Al-Habib 1.76 the profit after – tax in 2006 Muhammad Shoaib has reviewed three model Investment agreement of Ijarah, Musharaka and Mudaraba for the Modaraba Sector. ABN AMRO bank acquired 93.4% stake in Prime Bank for a cash consideration of Rs.13.8 billion. Need of Islamic Financial System at Govt. Level : Provinces pay Rs10.5 bn interest to federal Govt. in only first six months of current financial Year. EGIBL and HBL sign agreement SBP advised the all banks not to levy any charges from the Students. Islamic Chamber of Commerce & Industry Plans 200 companies in OIC Countries in Five Year.. Pak Govt. plans $300m UBL global depository receipt
	Takaful
PRCL will establish its Takaful Pool to promote Takaful : Captain M. Jamil Akhtar. Allianz Takaful ( Bahrain) will under Faimly Takaful. Takaful Pakistan issues its first policy to Hassan Aziz Bilgrami CEO – BankIslami. Tokio Marine aims for top 5 in life, general insurance Takaful Nasional targets RM262m new premiums from offshore products SALAMA Takaful: A DFM listed global insurance brand Insurance cover for foreigners under study in Pakistan

International News

Islamic banks growing at 23 per cent annually

European Islamic Bank completes two deals

SC, Citigroup hold shariah dialogue to strengthen market

Malaysia leans to Kuwaiti bank in RHB bid battle

Abu Dhabi to launch Dh4b Islamic bank

Shariah-compliant personal finance solution launched

Dubai Bank launches MULKI Property Financing

Citibank sees 50% of new mortgage biz from Islamic financing

Dubai Group representatives appointed to Bank Islam board

DIB, Kharafi Group sign Dh750 million agreement

HSBC optimistic more Internet banking with zakat payment

Banking sector keen to recruit UAE nationals

Islamic Investment, Funds & Sukuk Updates
Pakistan’s debut Islamic bond issue saw considerable interest from both conventional as well as Islamic investors CIMB Group launches first global Islamic fund Saudi Electric plans $2.9 bln Islamic bond sales Sabic Sukuk wins two awards S&P affirms 'A' rating on Gold Sukuk dmcc notes First Islamic Health care REIT wins international Islamic award

Articles

Khadin Husain Dupty Chief Manager SBP, Iftikhar Baig Sharia Advisor Prime Bank, Hamad Rasool Director Wapda First Sukuk Company Limited, Sibghat Ullah Ehsan Assistant Director Securities and Exchange Commission of Pakistan, Wasf Ali Babar Manager Corporate Meezan Bank Limited and Zubair Mughal CEO Al Huda CIBE Speaking at Specialized Training workshop on Islamic Banking at Multan on 23-24 Feb, 2007

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