BANKING - Interview with Sheikh Saleh Kamel, a pioneer of Islamic banking (Albaraka)

www.arabnews.com - JEDDAH: Saleh Kamel is a leading Saudi businessman and philanthropist who is popular worldwide as a renowned pioneer of Islamic banking and finance. He is the founder of Dallah Albaraka Group, one of the Kingdom's largest and most diversified conglomerates, spanning across 40 countries. He heads the Jeddah Chamber of Commerce and Industry (JCCI) as its chairman, Islamic Chamber of Commerce and Industry (ICCI) and a number of other organizations.  (source)

BANKING - Plan To Issue Mega Islamic Bank Licences Still In Progress

KUALA LUMPUR, March 8 (Bernama) -- Bank Negara Malaysia's (BNM) plan to issue up to two mega Islamic bank licences is still on progress, says its deputy governor, Datuk Mohd Razif Abdul Kadir.

"The plan is still in progress. We need to find the right investors," he said, when asked on progress of the plan to issue mega Islamic bank licences. (source)

CAPITAL MARKETS - Turkish Parliament passes tax neutrality law for Sukuk Al-Ijara

Almost unnoticed, the Turkish National Assembly in Ankara passed the Finance Bill 2011 in February 2011 which includes tax neutrality measures for Sukuk Al-Ijara (leasing certificates) thus paving the way for a spate of corporate Sukuk issuances in the country.

Murat Haholu, head of the Surveillance Group, Corporate Finance Department, Capital Markets Board of Turkey, confirmed that the tax neutrality measures for the Sukuk Al-Ijara were published in the Official Gazette at the end of February 2011, which he stressed is an important development in the participation banking sector in the country. (source)

BANKING - Islamic megabank gets Bahrain, Malaysia approvals

Feb 16 (Reuters) - A long-touted Islamic megabank has received approval from Bahrain and a preliminary green light from Malaysia to begin operations, an organizer said on Wednesday.

Saudi Arabia's Sheikh Saleh Kamel -- who is founder and chairman of Bahrain-based Islamic bank Al Baraka BARKA.BH and spearheaded the megabank initiative -- said the venture is still in discussions with Qatar to obtain a licence.

The entity will likely have an authorized capital of $3 billion, a third of which will be raised in a private placement. (source)

BANKING - ALBARAKA - Kamel wins Islamic finance award

Mohyedin Saleh Kamel, left, receives The Royal Award for Islamic Finance on behalf of his father Saleh Kamel in the presence of Securities Commission Malaysia chairwoman Zarinah Anwar, second left, Crown Prince of Perak Raja Nazrin Shah, third right, Sultan of Kedah Tuanku Haji Abdul Halim Mu'adzam Shah Ibni Almarhum Sultan Badlishah, second right, and Bank Negara Malaysia Governor Zeti Akhtar Aziz, in Kuala Lumpur on Monday. (AN photo)

BANKING - Dallah Albaraka founder gets award

KUALA LUMPUR: Dallah Albaraka Group chairman and founder Shaikh Saleh Abdullah Kamel has been awarded the 2010 Royal Award for Islamic Finance.

Shaikh Saleh was awarded the accolade for his visionary drive, extraordinary leadership and personal commitment in spurring global accessibility of Islamic finance.