BNY Mellon Joins the Financial Jihad
BNY Mellon has been appointed delegate, principal paying agent, registrar and transfer agent for a Sukuk launched by DIFC Investments LLC. A Sukuk is a Shariah-compliant bond. The joint lead managers on the issuance are Dubai Islamic Bank PJSC, Emirates NBD Capital, Noor Bank P.J.S.C. and Standard Chartered Bank. The Sukuk was assigned a BBB- credit […]
Does Your Financial Institution Participate in Shariah Compliant Finance?
The most common requests we receive here at SFW are questions as to whether banks or brokerage houses “are Shariah-compliant?” As a result of these numerous inquiries, for the past several weeks, we have carefully compiled a list of financial institutions active in the USA that have some form of tie to Shariah Compliant Finance. […]
Report: S&P to cut rating of Dubai’s DIFC Investments on Sukuk Refinancing Risk
DIFC Investments LLC, which owns properties in Dubai’s tax-free financial center, may have its credit rating cut at Standard & Poor’s due to “heightened refinancing risk” on its $1.25 billion Islamic bond due in June. DIFC Investments “has little room for delays in its efforts to secure a bank loan and government support to refinance the sukuk,” the rating […]
Dow Jones Islamic Market Index marks 10th Anniversary
The Dow-Jones Islamic Market Index is 10 years old. Excuse us if we decline to join in the celebration of one of America’s financial icons helping our enemy’s threat doctrine infiltrate our financial system. Dow Jones’ due diligence with regard to that entity has been nothing short of LOUSY. Case in point: they brought on […]
Dubai downgrades to hit rating, affect future debt DUBAI: Dubai may struggle to gain a top-grade sovereign rating after Standard & Poor’s Rating Services and Fitch Ratings Agency downgraded outlooks on some of the emirate’s biggest government affiliated companies, according to leading analysts. Both agencies lowered their outlooks for key Dubai Inc […]
Another Western financial institution goes dutifully into dhimmitude Swiss bank to open in DIFC Pictet & Cie, an independent private bank catering to institutional and private clients, has applied for a Dubai International Financial Centre Licence where it plans to establish a team of fund managers. The 203 year old Swiss bank opened a […]
Will Dubai’s soaring economy come in for a landing? By SHASHANK BENGALI McClatchy Newspapers “Coming in for a landing” Dubai has built its name on realizing the unbelievable and, often, the unnecessary: the world’s new tallest skyscraper, an indoor ski slope, a constellation of faux islands molded to resemble a map of the world. […]
(and the pundits say Shariah Compliant Finance is resiliant to the ups and downs of the Western Markets!) Gulf Capital, one of the largest and best-capitalized investment companies in the region, has postponed its initial public offering (IPO) until well into 2010. The firm has some Dh1.5 billion in capital but is putting its IPO […]
www.bloomberg.com Dubai not to deport Lehman staff: DIFC 18 Sep, 2008, 1526 hrs IST, PTI DUBAI: Dubai International Financial Center (DIFC), where Lehman Brothers Middle East is headquartered, has said the employees of the investment banker will not be asked to evacuate and that expatriates will be taken care of. “No one will […]
September 2008 Building Brand bin Ladenimage courtesy of www.bradblog.com Will the tiny nation of Djibouti one day be the “Dubai of Africa,” host to the largest suspension bridge in the world? Sheikh Tarek bin Laden, along with an alliance of international investors and some $200 billion in capital, hopes so. By Jeff Neumann Inside a half-finished five-star […]
31 August 2008 Jasper Capital Limited, a leading, London based corporate finance, asset management and consulting group with offices in Dubai, Abu Dhabi, Istanbul and New Delhi, announced today that its fully owned subsidiary, Jasper Corporate Finance Limited received a license from the Dubai Financial Services Authority (DFSA)Dubai Financial Services Authority (DFSA) to operate as […]
C Report Assesses Progress towards GCC Monetary Union The Gate. 19 August 2008 Report identifies key policy issues to be addressed before GMU launch The Dubai International Financial Centre (DIFC) today released a report assessing the progress being made by GCC countries to achieve the convergence criteria […]
The scams claim to represent leading decision makers in the business and financial community, inviting individuals to participate as brokers/agents in equity investment portfolio management programmes. The invitations may suggest that certain leading organisations are privately looking for fiduciary agents and management experts who are willing to act as investment portfolio holders and administrators. The […]
The gate keeper by Tamara Walid on Sunday, 10 August 2008 Dubai International Financial Centre CEO Nasser Al Shaali reveals how DIFC is coping with a new influx of foreign arrivals, fleeing the distressed markets of Europe and the US. The revolving doors of the Dubai International Financial Centre have not stopped spinning this […]
By Tomoko Yamazaki July 7 (Bloomberg) — Dubai International Capital LLC, the asset management firm with more than $12 billion, said any investments made in 2008 will be in Asia, where economies may expand faster than the global average this year. The firm has earmarked $5 billion over the next two-to-three years for Asia, […]
The Bank of New York Mellon awarded licence to operate from Dubai International Finance Centre The Bank of New York Mellon, a global leader in securities servicing and asset management, has announced the expansion of its business and the opening of an office in the Dubai International Financial Centre (DIFC). United Arab Emirates: 2 hours, […]
http://www.albawaba.com/en/countries/230555/&mod=print CEO of DIFC Authority calls for greater innovation in Islamic Finance Nasser Al Shaali, the CEO of the DIFC Authority called on financial centres across the world to coordinate their efforts to promote innovation in Islamic Finance products. Addressing an audience of financial professionals from around the world on […]
Nasser Al Shaali He was appointed CEO of the Dubai International Financial Centre (DIFC) in 2006, and also serves on the Board of the Dubai Statistics Centre. Al Shaali was earlier the COO of the DIFX, where he helped to launch the region’s first international exchange for financial products.Al Shaali began his career freelancing […]
?????? by Richard Agnew in London on Thursday, 26 June 2008 http://www.arabianbusiness.com/523140-difc-demands-systems-for-transparency?ln=en MORE TRANSPARENCY: The CEO of Dubai’s International Financial Centre Authority has called for more transparency from religious scholars. (Getty Images) The CEO of Dubai’s International Financial Centre Authority has called for more transparency from religious scholars that decide upon the viability of Islamic […]
D Posted on June 14, 2008 by ribh DIFC An Interview of Nasser Al Shaali, CEO of the Dubai International Financial Centre (DIFC) Authority with Emirates Business The DIFC would like to promote itself as a “liberal environment”. In which areas are you liberal and to what extent can you be liberal? It is […]
Senior DIFC official speaks to students at Zayed University The Dubai International Financial Centre (DIFC) made a presentation to students of Zayed University on its development as a global financial hub and its role in catalysing regional economic and financial growth. United Arab Emirates: 2 hours, 41 minutes ago PRESS RELEASE Senior DIFC official speaks […]
DIFC in Islamic finance standardisation study 12 June 2008 A research project that will study the standardisation of Islamic finance is to be launched this year by the Dubai International Financial Centre (DIFC), says a top official. The centre, together with undisclosed partners, will formulate standards for different types of Islamic […]
Dubai and Hong Kong sign Islamic finance pact Published: Tuesday, 27 May, 2008, 06:38 AM Doha Time DUBAI: The Hong Kong Monetary Authority (HKMA) and the Dubai International Financial Centre Authority (DIFC) announced yesterday that they signed an agreement to strengthen co-operation in the development of Islamic finance. Both bodies have signed a memorandum […]
Hudson opens office in the Dubai International Financial Centre (DIFC) http://www.zawya.com/story.cfm/sidZAWYA20080527110635 Dubai- 27 May 2008: Hudson, a leading global provider of recruitment and talent management services, has opened an office in the Dubai International Financial Centre (DIFC)Dubai International Financial Centre (DIFC) to serve the increasing demand for talents in the financial services […]
Dubai – The Hong Kong Monetary Authority (HKMA) and the Dubai International Financial Centre Authority (DIFC) announced Monday that they signed an agreement to strengthen cooperation in the development of Islamic finance. Both bodies signed a memorandum of understanding on Tuesday to work together in developing financial product and investment, which are compliant with […]
Bank staff to fuel autumn Dubai real estate shortage The Dubai International Financial Centre continues to staff up operations as the oil boom grows and the need to recycle petrodollars becomes more critical. Last week Deutsche Bank said it was relocating another 185 bankers to Dubai. Other international banks are also on an expansion track […]
By Mohammed Al Kady on Wednesday, May 07, 2008 The establishment of the Dubai Banking Group (DBG) by Dubai Holding, with assets valued at more than $10 billion (Dh36.7bn), will consolidate the city’s pioneering status in modern-day Islamic finance, which began 30 years ago with the […]
Stanchart opens its largest trading floor in Middle East Standard Chartered bank has opened its largest trading floor in the Middle East at the Dubai International Financial Centre (DIFC), the global financial hub. From correspondents in Emirates, United Arab Emirates, 29 Apr 2008 4:01 PM – (www.indiaenews.com) Standard Chartered bank has opened its largest […]
WAQF Showcases Career Opportunities for UAE Nationals how waqf works 17 April 2008 Waqf a key participant at Careers UAE 2008 The Waqf Trust Services, the world’s first exclusive Islamic trust services provider, was a key participant at the Dubai International Financial Centre (DIFC) Pavilion at this year’s Careers UAE. […]
1:16 PM Apr 11, 2008 http://www.businessspectator.com.au/bs.nsf/Article/Airport-bid-grounded-DL5H4?OpenDocument Giles Parkinson Airport bid grounded The battle for control of Auckland Airport has kept Kiwi eyebrows in an almost permanent state of elevation these past few months, but the two thuds just heard from across the Tasman were the sound of jaws dropping onto the desk, and of […]
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