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Calling Islamic financial institutions to become member of the United Nations Finance Initiative

IslamicFinance.de is calling Islamic financial institutions to become member of the UNEP Finance Inititiave to learn and contribute to international best practice in ethical and faith based finance:

"UNEP FI is a global partnership between UNEP and the financial sector. Over 180 institutions, including banks, insurers and fund managers, work with UNEP to understand the impacts of environmental and social considerations on financial performance."

membership information package:
http://www.unepfi.org/fileadmin/forms/MembershipInformationPack.pdf

Islamic Finance in North America

Yasaar media published a new report called Islamic Finance in North America 2009 for free download, which is co-published by Codexa Capital, UM Financial Group, King & Spalding, and Doha Islamic.

According to the report Islamic finance in North America has developed along two quite separate paths:

  • The first path focuses on retail Islamic finance and centres mostly on home financing products and credit cards.
  • The second path involves a number of high profile GCC-based Islamic investment banks and their deployment of hundreds of millions of dollars in private equity and real estate developments in North America.

Read the full report for free at the link below.

Dubai`s credit situation

Rachel Ziemba analysis the credit situation of Dubai on 17 February on RGEmonitor observing that in recent weeks CDS spreads on the debt of Dubai’s largest State-linked vehicles like Dubai Holding etc shot up dramatically after Abu Dhabi announced a unilateral recapitalization of its banks. The cost to buy prrotection on the 1 year bond has doubled since late January and now stands at 1073bps. This is deemed linked to the previous market opinion that Abu Dhabi would support Dubai, while the recent step to just re-capitalise their own banks caused some doubts. The property bust in Dubai goes on with severe consequences.

The full report shows an excellent overall summary of the situation. It can be accessed via the link "source" below.

Fitch rates Jordan Islamic Bank for Finance and Investment IDR 'BB-'

AME Info published a press release on 18th March stating that Fitch Ratings has today assigned ratings to Amman-based Jordan Islamic Bank for Finance and Investment (JIB) of Long-term Issuer Default (IDR) 'BB-' (BB minus), Short-term IDR 'B', Individual 'C/D', Support '3' and Support Rating Floor 'BB-' (BB minus). The Outlook is Stable.

Source: http://www.ameinfo.com/150487.html

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