Keyword: islamicbonds

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  • $1bn Islamic bonds planned for carbon credits bourse

    06/11/2008 7:28:49 PM PDT · by Shermy · 19 replies · 258+ views
    DUBAI: Doha Bank is in talks with JPMorgan Chase & Co and Morgan Stanley to help it sell $1bn of Islamic bonds to fund the Gulf’s first carbon credits exchange. The sale will probably happen in the first quarter of next year after being delayed from this October, Doha Bank chief executive R Seetharaman said in an interview in Dubai yesterday. “I want to make sure we have all the regulatory approvals for our Energy City project and that the borrowing is cost- effective,” Seetharaman said. Seetharaman said last year Doha Bank was working with the San Francisco, California-based RainTrust...
  • New sharia row over Chancellor's plans for 'Islamic bonds'

    A new sharia law controversy erupted last night over Government plans to issue special "Islamic bonds" to pay for Gordon Brown's public-spending programme by raising money from the Middle East. Britain is to become the first Western nation to issue bonds approved by Muslim clerics in line with sharia law, which bans conventional loans involving interest payments as "sinful". The scheme would mark one of the most significant economic advances of sharia law in the non-Muslim world. It will lead to the ownership of Government buildings and other assets currently belonging to British taxpayers being switched wholesale to wealthy Middle-Eastern...
  • Britain plans to issue Shariah-compliant bonds amid debate over Islamic law

    02/17/2008 3:47:01 PM PST · by ddtorquee · 9 replies · 151+ views
    Canadian Press ^ | Feb 18 2008
    Britain's Treasury is likely to back plans to issue Shariah law-compliant bonds, officials said Sunday - amid continuing debate about the application of Islamic laws in the country. Treasury Secretary Alistair Darling, who will present his annual budget March 12, plans to issue the Islamic bonds, known as sukuk, to tap into a fast-growing market in the products. "We want the City of London to be one of the gateways globally for Islamic financial products," a Treasury spokesman said, on customary condition of anonymity in line with policy. ...Shariah law prohibits charging or paying interest, which has led to the...
  • Islamic Bond Market Slows Because of Religious Doubts

    02/06/2008 7:37:56 PM PST · by jdm · 4 replies · 187+ views
    Bloomberg | Feb. 07, 2008 | By Laura Cochrane
    First thing I think to myself when I wake up in the morning is, 'Man, I gotta pick me up some of them delicious Islamic Bonds."'Story.
  • Hong Kong May Create Islamic Bond Market

    09/11/2007 4:07:07 PM PDT · by Tolerance Sucks Rocks · 6 replies · 310+ views (Newsmax) ^ | September 11, 2007 | Associated Press
    HONG KONG -- Hong Kong's financial secretary has ordered regulators to study how to reconcile Muslim financial rules with local laws in hopes of launching a market for Islamic bonds, according to a speech transcript reviewed Tuesday. Secretary John Tsang said he hopes to promote Hong Kong, a popular stock market for Chinese companies, as a gateway for Middle Eastern investment in China, according to transcripts from a Monday speech at a financial conference. "Islamic finance is an important element of the global financial system," he said. "For Hong Kong to be a major international financial center — not just...
  • Government mulls issuing Islamic bonds (U.K.)

    04/23/2007 12:06:08 AM PDT · by jdm · 14 replies · 645+ views
    Reuters ^ | April 23, 2007
    LONDON (Reuters) - The government will conduct a feasibility study into issuing Islamic bonds in a bid to bolster London's standing as a centre for Islamic finance, Treasury minister Ed Balls will say in a speech on Monday. In a step towards issuing the first sharia-compliant UK government bond, the Treasury and the Debt Management Office will look into the cost and potential benefits of the government issuing Islamic financial instruments in the sterling market, Balls will tell a Financial Services Authority conference. The results of the study will be published in the Autumn of this year. "I believe there...
  • Asian Central Banks Target Islamic Bonds

    03/13/2005 1:16:08 PM PST · by snarks_when_bored · 9 replies · 752+ views
    Reuters (via Yahoo! News) ^ | March 13, 2005 | Richard Dean
    Asian Central Banks Target Islamic Bonds By Richard Dean Dubai, United Arab Emirates (Reuters) - Some Gulf Arab and Asian governments have begun diversifying reserves into Islamic financial assets, but a shortage of Islamic sovereign bonds will slow the process, a senior banker said on Sunday. Iqbal Khan, Chief Executive of HSBC Amanah Finance, the Islamic banking unit of HSBC Holdings Ltd, said the shift was part of a wider trend among Asian governments to diversify their reserves away from U.S. dollar-based assets. "Central banks in Muslim countries are investing into those (Islamic) instruments that are made available to...