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07.02.2017

GCC VAT a test for Islamic Finance- Fitch


30.01.2017

Goldmoney adds Shariah-compliant methods to boost investment from Islamic markets


31.03.2016

Path Solutions joins CIBAFI, the world renown General Council for Islamic Banks and Financial Institutions


28.03.2016

"Kazakhstan Islamic Finance 2016: a new frontier for Islamic finance" country report


19.02.2016

Azerbaijan looks to new Islamic bank as sector rules progress


15.01.2016

Linar Yakupov received an award for his contribution to the development of Islamic finance industry in Russia


14.12.2015

The 2nd International winter school of Islamic law and economics has started in Kazan


09.12.2015

Russian financial experts are exploring options to launch Islamic Banking


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22.06.2016

Islamic banking will be most relevant to SME sector: Zafar Sareshwala

Interview with director and head of Islamic Corporation for Development's (ICD) India operations.

25.11.2015

Islamic Develop Bank calls for new Islamic microfinance structures

As the Shariah-compliant Islamic finance sector booms in the GCC region, the President of the Islamic Development Bank (IDB) Group, Dr. Ahmad Mohamed Ali, asked experts in the field to develop new Islamic microfinance structures.

14.09.2015

Dubai Silicon Oasis Authority and Thomson Reuters Reveal Key Findings of Digital Islamic Economy Report 2015

Dubai Silicon Oasis Authority (DSOA) and Thomson Reuters, with support from the Dubai Islamic Economy Development Centre (DIEDC) released the 'Digital Islamic Economy Report' for 2015, in collaboration with DinarStandard.

Sabana REIT Plans First $459 Million IPO [Initial Public Offering] in Singapore

02.11.2010

Singapore-based Shari'ah Compliant Industrial Real Estate Investment Trust, or Sabana REIT, is thinking big.
The company announced it plans to raise about 600 million Singapore dollars (US $459 million) in an initial public offering on the Singapore Stock Exchange, according to The Wall Street Journal.
Sabana REIT Plans First $459 Million IPO [Initial Public Offering] in Singapore
Singapore-based Shari'ah Compliant Industrial Real Estate Investment Trust, or Sabana REIT, is thinking big.

The company announced it plans to raise about 600 million Singapore dollars (US $459 million) in an initial public offering on the Singapore Stock Exchange, according to The Wall Street Journal.

Once floated, Sabana REIT is expected to be the largest certified Shariah-compliant REIT in the world, financial sources in Singapore and the first Shariah-Compliant listing in Singapore, tell the WSJ

Singapore has been pushing the development of Islamic finance in the city-state, encouraging companies to offer a range of Shariah-compliant products such as bonds and other investments, including REITs.

Shariah REITs only differ from conventional REITs in the type of assets held by the trust.

Sabana REIT's initial portfolio will comprise properties in Singapore that have no connection to activities such as gambling or to products such as alcohol or pork, the WSJ reports.

The REIT plans to acquire a portfolio of properties valued at about 850 million Singapore dollars (US $650 million). The company already has received a conditional eligibility-to-list letter from the Singapore Exchange.

Office buildings with warehouses, logistics warehouses and chemical warehouses may form part of its holdings.

HSBC, United Overseas Bank and Daiwa Capital Markets are advising Sabana on the deal. HSBC is also the sole financial adviser.

Sabana's logistics business, Freight Links Express Holdings Ltd., said it plans a $192.95 million sale in Singapore dollars, and lease-back of five properties to its unit Sabana Investment Partners, which own Sabana REIT.

Freight Links, through its 51% shareholding equity interest in Sabana Investment Partners, said it will participate in Sabana REIT's IPO.

http://www.realestatechannel.com

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Malaysia's fast-growing Islamic finance sector benefits not only the Muslim world but also non-Muslim countries, said former Prime Minister Tun Abdullah Ahmad Badawi.

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