Islamic Finance News
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Updated 20 minutes ago
Potential buyers of Malaysia’s RHB Capital Bhd. can grab an increasing share of the biggest market for Islamic bonds at a 24 percent discount to the bank’s rivals.
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Shares of the following companies may have unusual moves in Indonesian trading. Stock symbols are in parentheses and share prices are as of the previous close.
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The Hong Kong Monetary Authority will start a pilot platform with Bank Negara Malaysia and Euroclear Bank SA to spur trading of sukuk and Dim Sum bonds as the city aims to become China’s hub for Islamic finance and offshore yuan transactions.
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Turkey, planning its first sale of bonds that comply with Islamic law, may have to pay about a percentage point more in interest than on bonds sold in dollars that don’t have religious restrictions.
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The European Commission published the members and remit of a group of experts that will examine whether banks should build internal firewalls to protect taxpayers and customers when failure of one part of a lender threatens to cascade throughout the company.
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Eurasian Development Bank, a Russian-led lender backed by six former Soviet republics, wants to expand Shariah-compliant financing after helping arrange a deal last year, Chief Executive Officer Igor Finogenov said.
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Goldman Sachs Group Inc., the fifth biggest U.S. bank by assets, has become entangled in a debate about how Shariah compliant its $2 billion Islamic bond program is, which may diminish the allure of Islamic debt.
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Australia plans to change laws to ensure Islamic finance products are taxed fairly as the government seeks to attract investors from the Middle East and Asia, paving the way for sukuk sales.
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Australia’s Assistant Treasurer Nick Sherry said he is leading a trade delegation to the Middle East as the South-Pacific nation seeks to attract Islamic finance investment.
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Deutsche Bank AG, Germany’s biggest lender, appointed Salah Jaidah as chairman of Islamic finance and Ibrahim Qasim as head of Islamic finance structuring.
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