IslamicFinance.de

Global Islamic banking assets are expected to reach over $1.8 trillion in the coming year. This forecast by Ernst & Young is significantly higher than some industry estimates published earlier. The Islamic banking industry continuously grows worldwide and manages to sustain its quick pace. The top 20 Islamic banks demonstrate growth rates of 16% during the last three years. Saudi Arabia appears to be the largest market for Islamic assets.

Qatar's emir has eventually given his approval to the regulatory reform which is expected to simplify the slow and complex process of doing business in the country. However, no timetable for the completion of a reform first mooted five years ago was given. According to a central bank spokesman, the law ensures an umbrella body which will regulate banks, financial services and insurance companies and the country's bourse as well as banking, financial and insurance companies licensed by the Qatar Financial Center.

Five senior members of QInvest have been replaced in order to increase effectiveness and efficiency while maintaining the bank’s strategic direction which is now concentrated on the joint venture with Egypt’s EFG-Hermes.

An Islamic financing facility worth $500m was signed between Qatar Telecom (Qtel) and Qatar Islamic Bank (QIB). The bank plays the role of Sole Mandated Lead Arranger and Investment Agent for the deal. The financing is structured as an 18 month Shariah-compliant "Revolving Murabaha". According to Chief Executive Officer of the Qtel Group - Dr Nasser Marafih - the deal will make the relationship between Qtel and QIB stronger. Ahmad Meshari, Acting Chief Executive Officer of QIB, added that the financing facility enables further avenues of collaboration between the two companies.

Recently, the Qatar Faculty of Islamic Studies (QFIS) took part in the Joint Qatar Foundation Annual Research Forum and Arab Expatriate Scientists Network Symposium which took place at the Qatar National Convention Centre. Papers on the Qatar National Research Strategy by four researchers were presented. The research papers mainly deal with the topics of Qatar’s national priorities and the renaissance and reform movement in Qatar. One of the presentations, prepared and performed by senior researcher Bahnaz al-Qura Daqi, was titled ‘Risk Management among Islamic and Conventional Banks - A comparative study of Qatari banks registered in Qatar Financial Market’.

Read more on: http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=539247...

Qatar Islamic Bank (QIB) shows high performance with a net profit of QR1.13bn in the first nine months of 2012. This is an increase of 2% compared to the same period last year. In September this year, QIB's total assets were at QR66.8bn - an increase of 26.7% since last year. The reason for the continuous asset growth are the financing activities, which have risen 42% from QR11.3bn in the first nine months of 2011 to QR38.1bn this year.

Read more on: http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=538014...

Without causing much noise, liquidity-rich Arab banks have been taking part in commodity trade finance - an area which, until recently, was dominated by a small number of French banks. While the market share of eurozone banks has decreased from 80% two years ago to 50% today, banks from the Gulf region become more and more present. The lending limitations of the eurozone banks is caused by constrained US dollar liquidity.

Read more on: http://www.ft.com/intl/cms/s/0/d775f476-144a-11e2-8cf2-00144feabdc0.html...

According to Sheikh Hamad bin Jassem Al-Thani, no political motivation lies behind Qatar's investments in France. The Prime Minister further said that the country does not have any great political ambitions and that everything concerning investments in France is done after extensive coordination with the French side. So far, Qatar has acquired Paris Saint-Germain football club, 3% of energy giant Total, and stakes in building firm Vinci and in media group Lagardere.

Read more on: http://www.middle-east-online.com/english/?id=54911

Qatari Barwa Bank has launched a new Islamic product which is to support SMEs - Qotof. This is a suite of financial packages which serves to assist local corporations to achieve their business objectives and, at the same time, to save money. Until now, the products included in the package had been sold separately. By putting the m together in one product, the costs can be held lower and encourage businesses to take advantage of the offer.

Read more on: http://www.cpifinancial.net/news/post/16260/barwa-bank-launches-new-isla...

QInvest LLC, which is forming a joint venture with Egyptian EFG-Hermes Holding SAE, issaid to be cutting jobs at its brokerage and asset management divisions. 13 people will have to leave. The reductions, however, have not been made public yet. In the joint venture, QInvest LLC plans to take 60% of the new entity while EFG-Hermes Holding SAE receives the remaining 40%.

Read more on: http://www.bloomberg.com/news/2012-10-10/qinvest-said-to-cut-jobs-at-bro...

Asa reflection of healthy demand for the sukuk deal, Qatar International Islamic Bank (QIIB) launched a US$700m Islamic bond on Thursday. The price of the issue lies at the lower end of the one revised. The spread of the five-year sukuk is 190 basis points over midswaps. The mandated arrangers on the deal are HSBC, Standard Chartered and QNB Capital.

Read more on: http://www.arabianbusiness.com/qatar-s-qiib-price-700m-sukuk-thursday-47...

A consultation paper released this week announces a proposal by Qatar's regulator for extending its ban on onshore banks operating Islamic windows in order to make financial institutions part of the Qatar Financial Centre (QFC). Islamic windows enable conventional banks to offer Islamic financial services. The only prerequisite is that clients' money is segregated from the rest of the bank. An extension of the ban is expected to prevent conventional banks from taking advantage of the QFC.

Read more on: http://www.reuters.com/article/2012/10/11/islamic-finance-qatar-idUSL6E8...

The sales of Persioan Gulf Sukuk are notably higher than Shariah-compliant loans in the Middle East, Europe and Africa. This has not happened since 2006. The reason pointed out is that borrowers seize on tumbling yields to finance roads and airports. The sukuk sales in the GCC are almost four times larger this year, to a large extent due to the sales of Saudi Arabian state-run Civil Aviation Authority and of the Qatari government. Compared to that, Shariah-compliant loans show a growth of only 57%.

Read more on: http://www.businessweek.com/news/2012-10-10/gulf-sukuk-beat-loans-for-fi...

Affordable housing is a serious problem in the GCC countries since the population is growing. Already measures are being taken to address this problem. For example, amendments to the law on land and building regulations in Bahrain makes construction of additional houses on plots of land and the enlargement of small houses possible. The Diar Al-Muharraq project shall provide over 30,000 housing units. In Kuwait, a budget of 140 billion is designated to the cause of dealing with the urgent need for housing. The funding is part of the country's Five Year Plan 2010-14.

See more on: http://www.menafn.com/menafn/1093566568/Affordable-housing-GCC-National-...

As part of the preparation for issuance of a dollar-denominated sukuk, Qatar Internationa Islamic Bank (QIIB) has charged QNB Capital and two international banks to arrange investor meetings which will be held in the Middle East, Asia and Europe starting on October 10th. At the moment there are no informations about the size of the sukuk or other offer details.

See more under: http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=535325...

Barwa Bank announced it has launched its first collective investment scheme 'The First Investor GCC Equity Opportunities Fund', which is managed by The First Investor, a subsidiary of the 100% Shariah compliant Barwa bank. The main objective of the fund will be to achieve long-term capital growth through investing in a broadly diversified portfolio of equities and equity-related securities listed on GCC markets.

See more under: http://www.international-adviser.com/news/middle-east/barwa-bank-launche...

Qatari-based Barwa Bank considers an initial public offering on the Doha stock exchange. The IPO adviser is QInvest, a local investment bank controlled by Qatar Islamic Bank.

See more under: http://www.reuters.com/article/2012/10/01/us-idUSBRE8900A420121001

Qatar Islamic Bank (QIB) which is the largest sharia-compliant lender in the country, is arranging an issue of a five-year benchmark-sized Islamic bond. The expecting value of the sukuk shall be at least $500 million.

See more under: http://www.reuters.com/article/2012/10/02/qatar-qib-sukuk-idUSL6E8L2BVU2...

Qatar Islamic Bank has made plans of issuing a sukuk in dollar denomination. The move will be part of the bank's sukuk issuance programme worth $1.5 billion. According to a document from the lead arrangers, the banks mandated for the sukuk are Deutsche Bank, HSBC, Standard Chartered and QInvest LLC. Further details on the size of the sukuk are not known yet. The plans include investor meetings in Asia, Middle East and Europe.

More on: http://in.reuters.com/article/2012/09/26/qatar-sukuk-banks-idINL5E8KQ08R...

After bein inactive on the suku market for 2 years, Qatar Islamic bank (QIB) is about to launch a new sukuk program. The bank's board has approved a sum of $1.5 billion for this purpose. According to a spokesman of the bank, the issuance will be managed by HSBC Holdings PLC, Standard Chartered PLC, QInvest LLC and Deutsche Bank AG. The issuance will take place in two tranches of of $750 million. The first one will probably be issued in a month's time.

More on: http://me-confidential.com/5664-qatar-another-sukuk-program.html