FINANCE - Barwa Bank offering three-year, capital protected Islamic notes

www.gulf-times.com - Barwa Bank is offering a “unique” Shariah-compliant three-year capital protected notes linked to the Turkey and Indonesia equity markets until June 21.
“The Turkey Indonesia Equity Capital Protected Note is an investment opportunity for investors seeking potentially higher returns with 100% capital protection.
The growth is based on the performance of a selected basket of stocks in two high growth emerging markets- Indonesia and Turkey. (source)

CAPITAL MARKETS - Turkey's Albaraka Turk decided to increase its paid in capital

www.balkans.com - In its latest Board meeting, Albaraka Turk decided to increase its paid in capital by TRY 361mn to TRY 900mn. As of 2011, Albaraka Turk is operating with a CAR of 12.5%. After the full implementation of the Basel II requirements, we estimate the CAR to decline by 100-120bps. Therefore, the decision will be a good step to enhance the overall capital base. (source)

CAPITAL MARKETS - Albaraka Rises in Istanbul After Announcing Capital Increase

www.bloomberg.com - Albaraka Turk Katilim Bankasi AS (ALBRK), a Turkish Islamic bank, advanced after announcing a capital increase.

The shares gained 1.5 percent to 2.01 liras by the close in Istanbul after surging as much as 11 percent, the biggest intraday increase since October 2009.  (source)

BANKING - Albaraka Turk has decided to increase the share capital

www.finansglobal.com - Albaraka Turk, the capital of 361 million pounds as a bonus 67 percent decided to increasing the extraction of 900 million pounds.

360.9 million pound capital increase of bonus extraordinary reserves, real estate sales earnings and the remainder will be met.

BRSA and CMB artırımıyla filed in relation to bank capital and decided to change anasözleşmesinin 7th paragraph.  (source)

REGULATONS - The IFSB issues two Exposure Drafts for public consultation

Kuala Lumpur, November 4, 2010 - In its 22nd meeting held today in Kuala Lumpur, Malaysia, the Technical Committee of the Islamic Financial Services Board (IFSB) approved the issuance of the following two Exposure Drafts (EDs):

1. Guidance Note In Connection with the IFSB Capital Adequacy Standard: The Determination of Alpha in the Capital Adequacy Ratio
2. Guidance Note on the Recognition of Ratings by External Credit Assessment Institutions (ECAIs) on Takāful and ReTakāful Undertakings