www.saudigazette.com.sa -LONDON – The announcement by the Turkish Treasury a
few days ago that it had mandated Citigroup, HSBC and Liquidity
Management House (LMH), the investment bank subsidiary of Kuwait Finance
House, “to explore opportunities for a possible Lease Certificate
issuance in the international capital markets” could not be more
Turkspeak.
In reality the mandate is to advise and structure the proposed debut
sovereign Sukuk Al-Ijara of the country, the first time that secular
Turkey would raise funds from the international market through the
issuance of Islamic leasing certificates (Sukuk Al-Ijara). (source)
Showing posts with label saudigazette. Show all posts
Showing posts with label saudigazette. Show all posts
Friday, 28 September 2012
Thursday, 24 May 2012
EVENTS - IFSB SUMMIT - Turkey seeks market capitalism alternatives
www.saudigazette.com.sa - ISTANBUL — If you have any doubt that Islamic finance is creeping
into the mainstream global financial system where it matters, albeit
cautiously and perhaps in some instances even apologetically, then you
should have been in Istanbul last week.
Perhaps Turkey may not be perceived as the natural bedfellow of the Islamic finance industry, but contrary to popular misconception, next year will be the 30th anniversary of the introduction of the special decree (No. 831/7506 of 16 December 1983 issued by the Council of Ministers) allowing the establishment of Special Finance Houses (the euphemism for interest-free Islamic banks).
Armed with the ambition of transforming Istanbul into a regional and international financial center (and no financial center these days can be complete without also offering an Islamic banking and investment proposition) and with the sovereign debt chaos emanating from the West European continent, Turkey like several other countries is seeking alternatives to the unbridled market capitalism responsible for the near meltdown. (source)
Perhaps Turkey may not be perceived as the natural bedfellow of the Islamic finance industry, but contrary to popular misconception, next year will be the 30th anniversary of the introduction of the special decree (No. 831/7506 of 16 December 1983 issued by the Council of Ministers) allowing the establishment of Special Finance Houses (the euphemism for interest-free Islamic banks).
Armed with the ambition of transforming Istanbul into a regional and international financial center (and no financial center these days can be complete without also offering an Islamic banking and investment proposition) and with the sovereign debt chaos emanating from the West European continent, Turkey like several other countries is seeking alternatives to the unbridled market capitalism responsible for the near meltdown. (source)
Tuesday, 12 April 2011
TAKAFUL - Global Islamic insurance seen growing 31% in 2011
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