Islamic Banking and Finance

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Islamic finance eyes new regions

MANAMA - Muslim countries in Central Asia and Indonesia are seen as the next growth areas for the Islamic finance industry after hopes of expansion into Western markets faded and Gulf Arab markets remain fragmented. | Video

Dubai woes scapegoat Islamic finance: experts

DUBAI - Dubai's debt crisis has stifled sukuk issuance and unfairly put a damper on the Islamic finance industry, experts said, noting that an unstable credit environment and poor due diligence was to blame for the debacle.

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Islamic finance needs new assets beyond property

MANAMA - The Islamic finance industry will need to look for new assets on which to base its structures as investors shun real estate after the sector took a hit during the financial crisis, executives at a Reuters summit said. | Video

Swiss urged to grab Islamic banking chance

GENEVA - For a Swiss private banking industry that is under fire and could see traditional sources of asset inflows dry up, Islamic banking is a unique opportunity that should be grabbed with both hands, one expert said on Thursday.

Islamic finance should look to sukuk fund: Citi

DUBAI - The Islamic finance industry needs to develop sukuk funds that pool liquidity, rather than ones just focused on distressed assets, a top executive at Citi Islamic Investment Bank said on Thursday.

Islamic finance needs retail push: Ernst & Young

MANAMA - The Islamic finance industry has so far neglected retail banking that could provide it with a funding base more stable than its main wholesale and investment business, the head of Islamic finance at Ernst & Young said.

Islamic megabank to launch in 6-12 months

MANAMA - The creation of a planned Islamic investment megabank is in "fairly advanced stages" and it will likely be launched in the next six to 12 months, an executive at a firm advising on the project said on Thursday.

Islamic finance needs regulation: experts

DUBAI - Dubai's debt woes underscore the need for regulation and restructuring in the Islamic finance industry, said experts speaking at Reuters Islamic Banking and Finance Summit in Dubai.

France, UK must show sharia market mettle

LONDON - Paris and London, the financial centers vying for the lead on Islamic finance business in Europe, need to issue sukuk bonds soon to show commitment and keep competition at bay, experts told Reuters.

Koch eyes trade finance to right Faisal ship

GENEVA - The development of a trade finance arm will be an important next step in restoring the fortunes of struggling Faisal Private Bank, said its new CEO, but it will take time and probably fresh capital too.

Indonesia's BNI warns of double tax blow

JAKARTA - Indonesia's failure to address a key double taxation issue for Islamic financing could potentially wipe out the funds in the country's still-nascent sharia banking industry, a banker told the Reuters Islamic Banking and Finance Summit.

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