United Kingdom

Real Estate Investment Trusts and Student Housing – A Natural Fit?

The UK’s student accommodation market was recently calculated by realtor CBRE as having generated £2.7 billion in transactions in 2012. With the exception of the largest operator none of the top five operators are listed or otherwise in obviously British public ownership. The lack of liquidity is a definite drawback for investment in student accommodation. There’s growing American money in the UK’s student accommodation investment market, and Middle Eastern, Shari’ah-compliant investment – such as the AUB UK Student Accommodation Fund, which hails out of the Ahli United Bank of Bahrain. A REIT, a real estate investment trust, could serve as a vehicle for investment in this part of the UK’s real estate sector in order to instill a high level of investor confidence, which in turn aids liquidity.

Lecture: Seeking Alpha Through Islamic Finance: Opportunities in Islamic Finance

The Islamic Finance Society is pleased to announce our first event. Starting with a presentation on careers opportunities in Islamic Finance, followed by a presentation and discussion on industry related topics in Islamic Finance: Asset Management, Real Estate, Investment Banking.

Tuesday 19 February 2013, 18:30-20:00
Cass Business School, 106 Bunhill Row, London EC1Y 8TZ
Room: LG001
Registration: 18:15-



Analyst, Real Estate

To provide support to the Real Estate team in the analysis, preparation of marketing and internal approval documents, and ultimate execution of Shariah compliant, leveraged, equity investment, real estate transactions whilst also developing the Origination area through the building of a network of contacts.


Strong demand drives growth at Islamic Bank of Britain

Islamic Bank of Britain reported an increase of 63% in home financing and an increase of 43% in long-term savings deposits for the first three quarters of 2012. Key factors in stimulating the growth and demand were the launch and development of new savings products, the IBB Home Purchase Plan (HPP, the Sharia compliant mortgage alternative) and Buy to Let Purchase Plans, which were strongly supported by effective sales and marketing strategies. Currently, IBB is the leading provider of retail Islamic financial products in the UK and is searching for ways to increase the number of Islamic Banking products it offers to the market.

Head of Risk

Exclusively with Hays Financial Markets

Head of Risk
Islamic Investment Bank – London
Competitive salary with benefits package & pension

My client, a boutique and high-performing Islamic Investment Bank, is currently seeking an outstanding individual to head up their Risk function.

Having set up in London approximately 5 years ago, the Bank has developed into a successful and dynamic institution with established business lines and service offerings. The Bank is comprised of four main business units: Asset Management, Corporate Finance, Real Estate and Treasury.

Structured finance/securitisation lawyer, 3+ PQE

This top 20 City firm deals with a broad range of UK and international transactional work including structured finance and securitisation, debt capital markets, Islamic finance/sukuk and derivatives for banks, insurers, rating agencies and corporations.

It seeks a solicitor with at least three years' post-qualification experience in structured finance and securitisation. The right applicant will want to continue to have variety in their daily work and to be willing to support other areas, including debt capital markets and derivatives.

AVP, Shariah Advisory & Shariah Compliance

Experienced individual to work closely with the Head of Shariah in providing in-house Shariah advisory and Shariah audit services.

Branch Manager - Small Heath Birmingham Branch

Date: 15 November
Birmingham, West Midlands
£30,000 - £35,000 per annum

IBB is the UK's first FSA approved Islamic bank established Sept 2004. We are a stand-alone, Sharia compliant, retail bank in the UK and aim to provide a friendly, inclusive and personal service for all our customers. Based on the outskirts of Birmingham city centre, we are a small company of professionals with a promise to provide 'banking you can believe in'.

Kuwait third largest trading partner of UK in Gulf -- eminent businessman

The State of Kuwait belongs to the three largest trading partner of the United Kingdom in the Gulf region with a trade exchange between of about 3.59 billion U.S. dollars. In order to strengthen bilateral relations, the Amir of Kuwait has made a visit to the UK at the invitation of Her Majesty Queen Elizabeth II.

Director, Retail, Private & Islamic Banking

Director, Retail, Private & Islamic Banking

Our client is a Middle Eastern bank seeking to grow their base in the UK/Europe. The main office is based in the West End of London and they have multiple offices located throughout the GCC. First class opportunity for an Arabic speaker
Experience of Retail, Private and Commercial (SME) Banking within an Islamic Finance framework is key.

26.11.2012: eFC Ref Nr 1130266

Former Gatehouse Bank COO sues his ex-employer for discrimination and whistleblower status

James Bagshawe, 53, was the Chief Operating Officer of the Gatehouse Bank. He claims that he lost his £185,000-a-year job with the bank because he wasn’t a Muslim. Mr Bagshawe who has 25 years of experience in banking working for JP Morgan and Flemings, is claiming to be whistleblower in regard to an investment and so can be awarded unlimited damages if he wins the case.

Last night a spokesman for the bank said: ‘Mr Bagshawe was made redundant by the CEO a Christian. His appeal was heard by a non-executive director, another Christian. His redundancy was supported by the Board comprised equally of Christians and Muslims. Gatehouse Bank deny the allegations and say Mr Bagshawe’s position remains redundant a year after he left the company and there are no proposals to appoint a successor.

The tribunal continues and is expected to last 12 days.

BLME acquires property for its light industrial building fund

Bank of London and Middle East - BLME - is going to acquire a multi-let site property with six tentants for its Light Industrial Building Fund. This investment will bring the gross asset value of the fund over £20 million and an annualised yield of over eight per cent from the new acquisition which should help to achieve or even exceed target return of the fund, according to BLME Director Asset Management.

See more under: http://www.cpifinancial.net/news/post/15967/blme-acquires-property-for-i...

Turkey’s sovereign sukuk spurs new issuances

Turkish Treasury explores opportunities for a possible Sukuk issuance in value of $1.5 billion that was initially valued at $1 billion. The demand for it is high as the overall market conditions became increasingly challenging. The Turkish Treasury's entrance to the sukuk market shall provide a trustable benchmark to the sector and help boost private issuance around the Gulf and worldwide.

See more under: http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentid=20...

A New Tool for Scaling Impact: How Social Impact Bonds Can Mobilize Private Capital to Advance Social Good

Social Finance, Ltd. created a bond with social impact. Background on this project is provided free for download and could be a good base for innovation in the Islamic finance industry:

"In September 2010, our sister organization, Social Finance, Ltd., launched the world’s first Social Impact Bond in the United Kingdom. Targeted at reducing prison recidivism, the Peterborough pilot generated world-wide interest in the potential of this innovative financial instrument. We established Social Finance, Inc. in January 2011, to bring the Social Impact Bond to the United States. Since our founding, we have been collaborating with government, investors, nonprofit organizations, and thought leaders on how Social Impact Bonds might realign incentives for delivering social outcomes and augment public funding and philanthropy to support our collective efforts to improve the lives of individuals and communities in need.

K&L Gates Seminar: Islamic Finance: Recent Issues and Career Opportunities

K&L Gates Seminar
Islamic Finance: Recent Issues and Career Opportunities
February 20, 2012
The Arab Spring of 2011, the Goldman Sachs $2bn Islamic bond, the Islamic Interbank Benchmark Rate - just three recent topics that have reignited interest in Islamic Finance.

This programme addressed recent issues in Islamic Finance and potential career opportunities in the industry.

Specific topics covered included:

What happens when Islamic Finance transactions go wrong? The use of arbitration to resolve disputes.
The impact of the Arab Spring of 2011 on the growth of Islamic Finance.
The convergence of Islamic, Christian, Jewish and Socially Responsible Investment principles.
The role of private equity and leasing in Islamic investing.
The Islamic Interbank Benchmark Rate.
Career opportunities in Islamic Finance.
The global impact of Islamic Finance in Europe, the Middle East and the US.
Speakers included:

Dr Humayon Dar - Chairman, President & CEO - Edbiz Consulting
Jonathan Lawrence - Islamic Finance Partner - K&L Gates, London
Mohammed Amin - Islamic Finance Consultant - Conservative Muslim Forum
Kathleen Bradley - Counsel - K&L Gates, Doha

Home finance partnership for Islamic Bank of Britain, Legal & General

UK insurance giant Legal & General has signed a partnership with Islamic Bank of Britain (IBB) to make two Islamic home finance products available to financial intermediaries. The Home Purchase Plan (HPP) is IBB’s flagship Islamic mortgage product and is a mortgage alternative, which offers home finance without the use of interest. The Shari’ah-compliant product allows customers to purchase their home in partnership with the bank on a leasing (Ijara) and diminishing partnership (Musharaka) agreement. Islamic Bank of Britain pioneered Shari’ah-compliant retail banking in the UK and has launched a wide range of products, including the Home Purchase Plan (the halal mortgage alternative) Current Accounts, Savings Accounts and Personal Finance. Several of the bank’s products remain unique in the UK retail market.



New UK secretariat faces acid test to meet objectives

The launch of the UK Islamic Finance Secretariat (UKIFS) by the lord mayor of the City of London, Alderman Nick Anstee, at a reception at Mansion House on March 31, marks the establishment of the first Islamic finance trade body in Britain.

Islamic real estate again in vogue: S&P

Sharia-compliant investors are taking a renewed interest in commercial and residential real estate across the gulf region, trying to time any investments to catch a rebound in prices, Standard & Poor's told Reuters on Wednesday.

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