WORLD - FUNDAMENTAL DEBATE - Debate rages over Western role in Islamic finance

www.lse.co.uk - LONDON, Feb 23 (Reuters) - A controversial plan by Goldman Sachs to issue an Islamic bond has ignited a wider debate on whether conventional banks in the West should be allowed to engage in Islamic finance.

At a major conference of Islamic scholars and bankers in London this week, much of the public and private discussion was devoted to whether growing Western interest in Islamic finance could damage the industry by compromising its religious principles. (source) (see also)

INDONESIA - BANKING - Open Account BNI Syariah, People Can Homestay in London

Jakarta (4 / 10) - Bank Negara Indonesia (BNI) Sharia again offer interesting programs related to education. Homestay programs offered are for people who are interested to learn while vacation in England. By opening a savings, and precipitate a fund of Rp 25 million, people can already enjoy the facility to study at St. Andrews College in London, plus vacation facilities in the city.

The program itself is a continuation of cooperation between the Syariah BNI Indonesia Britian Education Center (IBEC), which previously has launched a Study Program In the United Kingdom with iB Hasanah Card. (source)

WORLD - HALAL - MARKETING - Sizeable Islamic market neglected by global brands, argues Oxford branding expert

LONDON, June 29 (APP)- A leading expert on Islamic brands is highlighting the untapped potential in Islamic markets which most companies are failing to exploit.The global Muslim market is now over 20% of the world’s population at around 1.6 billion, and is expected to increase to 2.2 billion by 2030,  situated in those regions where Muslims are in the majority, but also in other countries where Muslims are a significant and growing minority, including those in the West. The value of Muslim trade is assessed as worth trillions of dollars worldwide.“The Muslim market represents a significant untapped market,” says Dr.Paul Temporal, an Associate Fellow at Saïd Business School’s Executive Education Centre,  University of Oxford. (source)

CAPITAL MARKETS - Islamic Development Bank dual lists $750 million Sukuk in London, Kuala Lumpur

The Islamic Development Bank’s (IDB) Trust Certificates are being listed on the London Stock Exchange and Bursa Malaysia. Despite the volatile economic environment around the world, IDB achieved both a larger deal size and tighter pricing, with the deal pricing 3bps inside secondary market levels

"This transaction is important because it sets a benchmark yield for IDB risk," said Rizwan H. Kanji, a debt capital markets partner with the Middle East and Islamic finance practice of King & Spalding in Dubai, United Arab Emirates. "It also is expected to help re-energize the Sukuk market after a period of relatively low issuance of Sukuk."

King and Spalding advised the IDB on the $750 million benchmark Sukuk which has been dual-listed on the London Stock Exchange and Bursa Malaysia. The joint lead managers on the transaction were BNP Paribas, Deutsche Bank A.G. (London branch), HSBC and Standard Chartered Bank. (full story - source)