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  #1  
قديم 03-16-2010, 02:37 PM
الصورة الرمزية بديعة العتيبي
بديعة العتيبي بديعة العتيبي غير متصل
مشرف قسم
 
تاريخ التسجيل: Aug 2008
الدولة: الرياض- المملكة العربية السعودية
المشاركات: 672
افتراضي News- March 16 -2010


IDB approves $333.9 million in new
grants

By ARAB NEWS
Published: Mar 16, 2010 00:30 Updated: Mar 16, 2010 00:30
JEDDAH: The board of executive directors of the Islamic Development Bank (IDB), which concluded its 266th meeting at its headquarters in Jeddah, has approved $333.9 million for financing new projects.
The beneficiaries include Pakistan, Bahrain, Yemen, Benin, Sierra Leone and Saudi Arabia.
The board also approved a $1 million grant for the Syria-Turkey Inter-Regional Cooperation Program. Similar grants were also approved for Muslim communities in nonmember countries, including India, Fiji Islands, Kenya, Nepal, Thailand and the United States.
The board meeting, chaired by IDB President Ahmed Muhammad Ali, approved a $5.4 million loan for Benin for a microfinance support program, and an $8.88 million loan for Sierra Leone to fund a community-driven development project.
Yemen will receive a $10.5 million loan for a rural development project while Pakistan will receive $62 million in finance for the construction and equipping of a teaching hospital.
IDB will give $124 million for an electricity power project in Bahrain, $120 million for a refinery and petrochemical project in Jubail.
Lautoka Muslim Primary School in Fiji will receive a grant of $250,000 while the Indian Muslim community in Jharkhand received $226,000 to build a vocational training
center, the IDB said in a statement.

__________________
اللهم ارحم أخي جمال الأبعج و اغفر له و اسكنه فسيح جناتك
اقتصاد إسلامي

+

إيمان حقيقي و علم راسخ و تطبيق صحيح

=

رفاه اقتصادي و عدالة اجتماعية

||
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سعادة البشرية و رضا رب البرية
رد مع اقتباس
  #2  
قديم 03-16-2010, 02:44 PM
الصورة الرمزية بديعة العتيبي
بديعة العتيبي بديعة العتيبي غير متصل
مشرف قسم
 
تاريخ التسجيل: Aug 2008
الدولة: الرياض- المملكة العربية السعودية
المشاركات: 672
افتراضي


Islamic Bank to offer student loans

By WICHIT CHAITRONG
THE NATION
Published on March 16, 2010


The Islamic Bank of Thailand will start extending student loans in May, Sathit Limpongpan, Finance Ministry permanent secretary and chairman of the Student Loan Fund, said yesterday.



At present, students may apply for them only through Krung Thai Bank.

Sathit was speaking at an exhibition to celebrate the 12th anniversary of the Student Loan

Fund, which has to date provided Bt326 billion to 3 million students.

"Islamic students will prefer to deal with the Islamic Bank," said Sathit.

The exhibition took place at the Queen Sirikit National Convention Centre. A mass political

rally held elsewhere in Bangkok resulted in fewer-than-expected visitors, but students still pre�

sented their research projects with enthusiasm.

Sathit said the fund would also soon start collecting debt repayments directly from employ�

ers of new graduates, for greater efficiency.

Finance Minister Korn Chatikavanij has complained about the fund's poor management that

resulted in a high default rate and voiced concern about the burden on the annual budget.

More than 20 per cent of student loans have defaulted.

Source: http://www.opalesque.com/IslamicFina...iefing/?p=6833
__________________
اللهم ارحم أخي جمال الأبعج و اغفر له و اسكنه فسيح جناتك
اقتصاد إسلامي

+

إيمان حقيقي و علم راسخ و تطبيق صحيح

=

رفاه اقتصادي و عدالة اجتماعية

||
V

سعادة البشرية و رضا رب البرية
رد مع اقتباس
  #3  
قديم 03-16-2010, 02:48 PM
الصورة الرمزية بديعة العتيبي
بديعة العتيبي بديعة العتيبي غير متصل
مشرف قسم
 
تاريخ التسجيل: Aug 2008
الدولة: الرياض- المملكة العربية السعودية
المشاركات: 672
افتراضي



x 680 Islamic funds run $70 billion in assets




KUWAIT -- As many as 680 Islamic funds, 45 percent of which are concentrating in the GCC member states, are running assets in the neighborhood of USD 70 billion, according to a recent economic report.

There are 306 Islamic funds in the GCC member states alone, witnessing fast-track growth as a result of increasing wealth in the Arabian Gulf region thanks to edging oil prices, indicated the monthly report released by Kuwait-based Saba'ek Company.

There is a steady link between oil prices and the number of recently launched investment funds, which reflects the flow of capital into this industry, the report showed.

The size of GCC Islamic funds' investable assets edged up from USD 267 billion in 2007 to USD 736 billion in 2008, it cited the Ernst and Young as saying.

The base of Islamic funds' customers has largely expanded over the last decade to cover a large number of non-Muslim investors, the report indicated.

Such funds have developed in the field of wealth management in order to answer the needs of investors who are willing to join capital markets in line with Islamic Sharia' or law, it said, expecting the number of Islamic funds to skyrocket by over 700 this year.

Malaysia and Saudi Arabia are home to the largest number of Islamic funds thanks to their available incentives and deregulated Islamic finance, it said.

Malaysia has 194 Islamic funds, making up 26 percent of the total and running over USD 8.6 billion, while Saudi Arabia includes 147 funds, accounting for 19.6 percent and running USD 18 billion, it showed.

There are 55 funds running USD 5.5 billion in assets in the United Arab Emirates (UAE), followed by Kuwait which is home to 36 funds managing USD three billion, and then Bahrain with 20 funds investing less nearly USD one billion.

Such funds' revenues surged up by 16 percent last year, recording a strong jump compared to negative earnings in 2008 by 10 percent, the report added.

© KUNA (Kuwait News Agency) 2010

Source: http://www.muslims.net/news/newsfull.php?newid=344356
__________________
اللهم ارحم أخي جمال الأبعج و اغفر له و اسكنه فسيح جناتك
اقتصاد إسلامي

+

إيمان حقيقي و علم راسخ و تطبيق صحيح

=

رفاه اقتصادي و عدالة اجتماعية

||
V

سعادة البشرية و رضا رب البرية
رد مع اقتباس
  #4  
قديم 03-16-2010, 02:55 PM
الصورة الرمزية بديعة العتيبي
بديعة العتيبي بديعة العتيبي غير متصل
مشرف قسم
 
تاريخ التسجيل: Aug 2008
الدولة: الرياض- المملكة العربية السعودية
المشاركات: 672
افتراضي


Shariah Investing: Focusing on Fundamentals



March 16 2010
In previous reports, we have discussed two poad assumptions: The first being that Shariah investors would continue to benefit from a lack of exposure to the volatile financial sector. The second being that as conventional markets stabilized and financials in particular moved into recovery Shariah indices would begin to loose their trend of strong out performance and the alpha built over the credit crisis period would begin to give way.
Looking back on 2009, both assumptions appear to have been affirmed. At the end of the last year, the MSCI World Islamic Index had outperformed the MSCI World Index and continued to be the stronger performer over the last 10 challenged quarters as demonstrated in Figure 1. However, in USD terms, the 2009 performance of both indices shows that the Islamic index returned 27.08% and the conventional returned 26.98%, a less dramatic out performance than in 2008 where the Islamic index outperformed its conventional counterpart by 5.74% or in 2007 when the out performance was 8.22%



Looking back at Q4
In the last quarter of 2009, the MSCI World Islamic Index's allocation to low-debt companies and non-financial stocks continued to work in its favour. Financials were the worstp-erforming sector for the quarter, falling both on fears surrounding the potential for default on Dubai World's debt as well as increased European forecasts regarding the amount of bad debts still remaining on bank balance sheets. Although there were positive signs of recovery throughout the quarter, the Islamic Index continued to benefit strongly from its lack of exposure to these troubled sectors, illustrated by its out performance of the conventional index by more than 3.5%.
Among the sectors that are more sensitive to changes in the economic cycle (cyclical sectors), Materials led the way in Q4, climbing in line with a surge in copper, gold and other metals. Energy and Information Technology also outperformed the overall Islamic index, as oil prices moved higher and technology companies continued to show good prospects for the upcoming year. The cyclical Industrials sector slightly underperformed the index, joined by the more defensive Utilities and Telecommunications sectors among the laggards.
Looking back further than the last quarter, Figure 2 below highlights contributors to Industry return over the last 10 challenged quarters. The chart shows the return impact of the top ten industry positions of the MSCI World Islamic index and that, when compared to the MSCI World Index, a deviation in allocations to Banks (underweight), Diversified Financials (underweight) and pharmaceuticals & Life Sciences were the top 3 drivers of alpha (excess return) for the Islamic Index. This is consistent with the discussion that Shariah investors have benefited from a lack of exposure to the financial sector. However some of this alpha was offset by an overweighting of cyclical sectors. Shifts in sector leadership and volatile swings in cyclical industries such as Energy and Consumer Goods resulted in them detracting from the Islamic index in relative terms.


Focus on Quality
Although there were signs of improvement in the world economy during the past year, SEI believes the pace of gains is likely to be more tempered in 2010. The market rallies in 2009 were mostly driven by riskier assets with higher leverage and poorer-quality earnings - the opposite selection criteria for Shariah stock. This dampened Shariah indices' trend of strong outperformance.
Conventional indices are likely to perform better than their Islamic counterparts if assets that are perceived to be riskiest continue to stoke positive rallies and as economic activity revives and corporate profitability improves, the magnitude of the outperformance should diminish. However SEI believes it will not only be the recovery of riskier stocks and sectors that will close the gap between the conventional and Islamic indices. If 2010 sees the market transition to a more fundamentals-driven recovery where companies are judged individually based on their position in the market and their growth prospects, the stock selection criteria of Shariah and Conventional investing will likely overlap.
Not Only an Avoidance of Financial: Asset Selection is Important Too
A point to note is the importance of Asset Selection as a driver of alpha for Shariah Indices. Figure 3 below highlights that over a 30 month period beginning in July 2007, Industries and underweight towards other sectors (as highlighted in Figure 3) contributed almost 50% of the outperformance (5.61% over& the performance of the MSCI World Index), followed by Asset Selection contributing 3.77%. The quarterly asset selection in the Islamic Index is a result of the parameters and guidelines placed on prohibiting companies engaged in non-Shariah-compliant activity in addition to those that exceed the debt to equity guidelines.


Moving forward, SEI believes the key attributes of Shariah investments' performance will continue to be: asset selection, avoidance of financials and a focus on quality stocks. If conventional markets and Financials in particular move into a poad market recovery, the gap between the MSCI World and MSCI World Islamic Indices should narrow as we saw in 2009 and return to the pattern they followed up until April 2007. However, if fundamentals and quality stocks lead the 2010 markets, we should anticipate a poadening of leadership by Shariah Indices over conventional.
Summary: Navigating 2010
If 2010 continues to see the market transition to a more fundamentals-driven recovery, Investment Managers - including Shariah Managers - with a track record of strong security selection capabilities may be in a better position than other managers to navigate such an environment. Managers who follow strong due diligence processes and stringent risk management practices may be better positioned to make more consistent and less risky returns for their investors.&&
-Ends-
About SEI
SEI (NASDAQ:SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of December 31, 2009, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $392 billion in mutual fund and pooled assets and manages $158 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from numerous offices worldwide.
SEI currently manages four Shariah Compliant funds under the SEI Islamic Investments Fund pLC umpella. This range includes the SEI Islamic US Equity, SEI Islamic pacific Basin Equity, SEI Islamic European Equity and SEI Islamic Emerging Markets Equity Funds.
For more information, visit www.seic.com. Jahangir Aka; SEI Investments (Middle East) © press Release 2010

Source: Bing

****
Source:

__________________
اللهم ارحم أخي جمال الأبعج و اغفر له و اسكنه فسيح جناتك
اقتصاد إسلامي

+

إيمان حقيقي و علم راسخ و تطبيق صحيح

=

رفاه اقتصادي و عدالة اجتماعية

||
V

سعادة البشرية و رضا رب البرية
رد مع اقتباس
  #5  
قديم 03-16-2010, 03:03 PM
الصورة الرمزية بديعة العتيبي
بديعة العتيبي بديعة العتيبي غير متصل
مشرف قسم
 
تاريخ التسجيل: Aug 2008
الدولة: الرياض- المملكة العربية السعودية
المشاركات: 672
افتراضي

Gulf Times



New Islamic insurance company
opens today

March 16 2010

A new Qatari Islamic insurance company, Beema, will offer Shariah-based products including takaful in the market from today. Beema, with a paid up capital of QR200mn, is a joint venture of Qatar Insurance Company (QIB), Masraf Al Rayan, Barwa and QInvest. Beema chief executive officer Ali al-Fadala yesterday said the company would provide takaful products, relying on the “best ethical standards”.
__________________
اللهم ارحم أخي جمال الأبعج و اغفر له و اسكنه فسيح جناتك
اقتصاد إسلامي

+

إيمان حقيقي و علم راسخ و تطبيق صحيح

=

رفاه اقتصادي و عدالة اجتماعية

||
V

سعادة البشرية و رضا رب البرية
رد مع اقتباس
  #6  
قديم 03-16-2010, 03:07 PM
الصورة الرمزية بديعة العتيبي
بديعة العتيبي بديعة العتيبي غير متصل
مشرف قسم
 
تاريخ التسجيل: Aug 2008
الدولة: الرياض- المملكة العربية السعودية
المشاركات: 672
افتراضي

Silk Road Intelligencer
News and analysis from Kazakhstan - Mar 16th 2010




Kazakhstan mulls Islamic bonds in 2010

By SRI ⋅ March 16, 2010 ⋅
(SRI) - Kazakhstan may sell Islamic bonds as early as this year as the country seeks to establish itself as a major player on the Islamic finance market, Kazakhstan’s Finance Minister Bolat Zhamishev said on Monday.

Kazakhstan has drafted legislation to allow it to sell the so-called sukuk, Islamic bonds, which will be used to cut the budget deficit. Sukuk are asset-based securities that pay a profit rate to investors to comply with Shariah law’s prohibition on interest payments.
“As for sovereign borrowing […] we as the state, as the government, as the Ministry of Finance in particular, are working on establishing Kazakhstan as an important player on the Islamic finance market,” Zhamishev said at an Islamic finance conference. “I think it should happen this year.”
More than half of Kazakhstan’s population of 16 million people are Muslim and the country has long sought to tap into Muslim wealth by establishing itself as a Islamic finance destination.
Al Hilal Bank
In 2009, the governments of Kazakhstan and Abu Dhabi signed an agreement on the establishment of Al Hilal Bank in Kazakhstan, after Kazakhstan approved Islamic investment funds and banks last year.
Al Hilal Bank, which is owned by the Abu Dhabi government, plans to expand its operations in Kazakhstan and increase lending to as much as $1 billion, Prasad Abraham, CEO of the bank’s Kazakh unit, told reporters in Almaty on Monday.
“We expect that by the end of this year our balance sheet will reach $200-250 million,” Abraham said. “The first year will be slow, but after one year our rate of growth will increase.”
Al Hilal’s main areas of focus will be oil and gas, metals and mining, as well as
infrastructure projects like road building.

Source: http://silkroadintelligencer.com/201...bonds-in-2010/
__________________
اللهم ارحم أخي جمال الأبعج و اغفر له و اسكنه فسيح جناتك
اقتصاد إسلامي

+

إيمان حقيقي و علم راسخ و تطبيق صحيح

=

رفاه اقتصادي و عدالة اجتماعية

||
V

سعادة البشرية و رضا رب البرية
رد مع اقتباس
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