AUSTRALIA - FINANCE - Australia's NSW revives Islamic finance push

www.reuters.com - May 13 (Reuters) - The government of the Australian state of New South Wales, home to the country's financial capital Sydney, will send a group to Dubai this week to discuss ways to develop the Islamic finance industry, officials said.
The delegation, led by New South Wales premier Barry O'Farrell and including financial services professionals, will explore regulatory and legal issues at a roundtable discussion with the Dubai Export Development Corp on Tuesday.  (source)

INDONESIA - FINANCE - ICD to extend $157m of loans in 2012 (PT Sritex and PT Mandala Multifinance)

The Dubai-based Islamic Corporation for the Development of the Private Sector (ICD) says it will distribute US$157 million in sharia loans in 2012, comprising $17 million for three banks and $140 million for military uniform maker PT Sritex.

Director for the ICD’s financial institutions development department, Basel A. Al-Hag Issa, said ICD was still in discussions with some banks, but had yet to decide which banks would receive the $17 million loan. (source)

FINANCE - Dubai to increase Islamic Finance products to France and heading for Indonesia

Dubai Exports, an agency of the Dubai Department of Economic Development (DED), in partnership with Invest France conducted an Islamic Financial Services Trade Mission to France. The Trade Mission included leading UAE companies in all areas of the Islamic Financial sector from advisory firms and specialists in structuring of products to Shariah scholars and investment banks.  


Engineer Saed Al Awadi, CEO of Dubai Exports, commented, "The principle aim of this trade mission is to ensure that our firms are able to capitalize on global opportunities in the sector. As such we plan to conduct similar missions to Canada which is considering regulatory changes to its taxation laws to incorporate Islamic financial services as well as Indonesia which is home to the world's largest Muslim population of over 130 million people.(full story)