Posted by: Paradise on: March 11, 2011
Gain a full understanding of the key business ideas in Understanding Islamic Finance by Muhammad Ayub.
Muhammad Ayub provides a thorough report on the major economic and political ramifications of Islamic finance, now practiced in more than 75 countries. This system follows specific, religion-grounded financial policies. For instance, it accommodates Riba, the Islamic prohibition of certain kinds of gains, including interest. Ayub makes it clear that Islamic finance, backed by billions in petrodollars, could come to compete with Western capitalist practices, which he roundly criticizes. His book is simultaneously academic, religious, legal, political and economic (as well as being rhetorical at times, with some challenging long and winding sentences). He also states some apparently opinion-based observations as facts, often with no references, but he knows his subject area and he sounds authoritative throughout, though you may differ with his political viewpoint. getAbstract finds this book critically important for anyone whose work is touched by Islamic banking or finance.
Muhammad Ayub directs training development and Shari’ah aspects at IIBI, London. Formerly, he was the senior joint director in the research and Islamic banking departments of the State Bank of Pakistan, heading the Islamic Economics Division and Shari’ah Compliance. He is an Islamic Finance master trainer.
Click here to Download (File Size: Over 3MB – No of pages: 544)
http://islamicperspective.net/Pictures/Book%20File/b4s2s2.pdf
Posted by: Paradise on: December 15, 2010
(Updated: 15th December 2010)
ISLAMIC FINANCE ADVISORY & OTHER SERVICE PROVIDERS
Adl Capital (Pvt) Ltd
Islamic Finance Advisory Service
82-B/1, Bauddhaloka Mawatha,
Colombo 4
Phone: +94 11 258 5227
email: ishrat@adlcapital.com
web: www.adlcapital.com
Managing Director/CEO – Mr. Ishrat Rauff – Mobile: +94 77 771 8247
Cross Border Associates (Pvt) Ltd
Islamic Finance Advisory Service
Level 8c, Valliant Towers, 46/7, Nawam Mawatha, Colombo 2, Sri Lanka
Tel: + 9 4 11 7397390-3, Fax: + 9 4 11 2451474,
Mobile: + 9 4 7722 60747
Website: www.cb-associates.net
KPMG Ford, Rhodes, Thornton & Co.
Islamic Finance Advisory Service / Tax consultants
32 A, Sir Mohamed Macan Markar Mawatha
P.O. Box 186COLOMBO 3
Phone – 011 542 6426 Facsimile – 011 244 5872
E-mail frt@kpmg.com
RAM Ratings (Lanka) Ltd
No.9, Arthur’s Place,
Colombo 4
Phone: 011 2553089 / 011 2503551
Fax : 011 2553090
The Research Intelligence Unit
Information Desk
Bartleet House
65 Braybrooke Place
Colombo 2
Tel: +94 11 4718258
Mobile: +94 72 2 741305
Fax: +94 11 5510143
e-mail: roshan@riunit.com, riu@pan.lk
web: www.riunit.com
ISLAMIC FINANCIAL SERVICE PROVIDERS
Amana Investments Limited
(Islamic Investment Company)- Awaiting Banking License
No. 480, Galle Road,
Colombo 3, Sri Lanka
Phone: 94 11 256 4090
Fax: 94 11 257 4419
web: http://www.amana.lk
Amana Takaful PLC
(Takaful - General)
No.98, Bauddhaloka Mawatha,
Colombo 4, Sri Lanka
Phone: 94 11 259 7430
Fax 94 11 534 0658
Web: www.takaful.lk
Amana Takfaul PLC
(Takaful -Life)
No.6, Glen Abor Place
Colombo 4, Sri Lanka
Phone: 94 11 576 9986
Fax: 94 11 534 0658
Amana Global Ltd
No.102 1/3, Bauddhaloka Mawatha
Colombo 4
Phone: (011) 255 6411
Fax : (011) 255 6412
General Manager: Mr. Fawas Farook – Mobile: 077 2288525
Bank of Ceylon
(Islamic Finance Window)
Islamic Banking Unit
25th Floor, Head Office,
No. 4, Bank of Ceylon Mawatha,
Colombo 1, Sri Lanka
Phone: 94 11 220 5036
Fax: 94 11 239 4585
email: ibu@boc.lk
Lanka Orix Leasing Company Ltd
(Islamic Finance Window)
Al-Falah Islamic Finance Unit0
No. 100/1, Sri Jayawardenepura Mawatha,
Rajagiriya, Sri Lanka
Phone: 94 11 588 0880
web: http://www.lankaorix.com/Islamic_products.php
LB Finance PLC
(Islamic Finance Window)
Al-Salamah Islamic Finance Unit
No. 520, Maradana Road,
Colombo 10
Phone: (011) 452 1000
Fax (011) 534 5327
Head of Islamic Finance Unit- Mr. S.H.M. Faraz – Mobile: 077 780 7838
MCB Bank Limited
(Islamic Banking Window)
Islamic Banking Unit
Main Branch,
No.8, Layden Bastian Road,
Colombo 1, Sri Lanka
Phone: 94 11 244 8765
Fax: 94 11 244 8764
email: mcb@eureka.lk
People’s Leasing Finance Ltd
(Name changed from Peoples Leasing Co Ltd)
Islamic Finance Unit
(Islamic Finance window)
No. 74, Union Place,
Colombo 2, Sri Lanka
Phone: 94 11 249 0000
Fax: 94 11 249 0105
email: islamicfinance@plc.lk
ISLAMIC FINANCE EDUCATION AND TRAINING PROVIDERS
Asia Pacific City Campus
(Islamic Finance Training)
Level 3, SBS Building,
No.130, Galle Road,
Dehiwela
Contact Person: Mr. Zaid Usama – 077 976 6886
The Institute of Bankers of Sri Lanka (IBSL)
No. 5, Mile Post Avenue,
Colombo 03
Phone: – 011 2573625, 011 2574702
Institute of Business Studies
(Islamic Finance Training)
No. 67, Kawadana Road,
Dehiwela, Sri Lanka
Phone: 94 11 552 2188
94 11 552 2488
email: info@ibslanka.com
http://www.ibslanka.com/tuition.html
First Global Knowledge Centre
(Islamic Finance Training)
Collingwood Place,
Colombo 6, Sri Lanka
Phone: 94 11 739 5090
email: info@fgkcentre.com
web: http://fgkcentre.com/
Singapore Informatics
Darley Road
Colombo 10
Contact Person: Mr. Amantha – Mobile: 077 441 6655
UTO EduConsult (Pvt) Ltd –
82 1/B Baudhaloka Mawatha,
Colombo 4
Contact Person: Ms.Rozana + 94 77 350 1246
email: rozana@utoeduconsult.com
Zailan Educonsultants
21 1/1, Vishaka Road,
Bambalapitiya
Colombo 4
Contact Person: Mr. Maqsood - 077 786 7860
ISLAMIC MICRO FINANCE SERVICE PROVIDERS
Al Baraka Islamic Investments (Pvt) Ltd
Islamic Micro Finance Provider
Jamiah Naleemiah Road
China Fort
Beruwela
Phone: +94 34 7910831
Muslim Aid Sri Lanka
4/48A, 3rd Lane,
Thalakotuwa Gardens
Colombo 5
Phone: 2515074
Fax: 2515023
email: srilanka@muslimaid.org
Serendib Islamic Micro Finance
Madampe
Contact Person: Dr. Naajim c/o Jamaat e-Islami – Dematagoda
Institutions listed below, are not functioning at present.
Amana Securities Limited -
(Sold to Heraymila Investments Ltd. – Saudi based company)
(Trading Member of Colombo Stock Exchange)
No. 532/4 F, Sirikotha Lane,
Galle Road, Colombo 3, Sri Lanka
Phone: 94 11 237 2561
Fax 94 11 237 2565
web. www.asl.lk
Aluthgama Investment Fund (Pvt) Ltd (ALIF)
(Islamic Investment now diversified to Education sector)
99/1, Main Street,
Dhargatown, Aluthgama
Phone/Fax: +94 342275766
Asian Institute of Management
(Islamic Finance Training) (Now confined to distance learning- Tamil)
Moor Road, Dehiwela, Sri Lanka
Ceylinco Profit Sharing Investment Corporations Limited
(Islamic Investment Company – Not functioning due to legal constrains)
{No.3/1, Melbourne Avenue, Galle Road, Colombo 4, Sri Lanka}
moved into Fareed Place, Colombo 4
Tel: +94-11-2510700
Fax: +94-112510788
E-mail: cpsicl@cpsicl.com
Ceylinco Takaful Insurance
(Business suspended by Insurance Board of Sri Lanka)
Galle Road, Colombo 3, Sri Lanka
Phone: 94 11 555 9323
Fax : 94 11 555 9324
Ceylinco Sussex Business School
(Not functioning after the collapse of Golden Key)
(Islamic Finance Training – INCEIF)
195, Galle Road, Colombo 4
Phone: 5674695
hotline: 0777756040
email: cim_cima@bellmail.lk
First Barakah Finance Limited
(Converted to conventional Finance Company-Awaiting Licence)
(Formerly ABC Investmetns – Barakah Islamic Financial Services)
(Islamic Investment Company)
No. 45, 5th Lane, Colombo 3, Sri Lanka
Phone: 94 11 5878600
Fax: 94 11 5886786
First Global Investments Holdings Limited
(Islamic Investment Company)
(Liquidating Mudaraba Deposits due to regulatory issues)
No.496, R.A.De Mel Mawatha,
Colombo 3, Sri Lanka
Phone: 94 11 255 5902
Fax: 94 11 255 5905
First Global Al-Rahn Pawning Centre – (not functioning)
95, S. Mahinda Mawatha
Maradana
Colombo 10
Pioneer Publications (Private) Ltd
(publishers of Islamic Finance Today)
04, Collingwood Place
Colombo 6, Sri Lanka
Phone: +94 11 7395090-3
Fax: +94 11 4413030
email: editor@pioneer-publications.com
web: http://www.pioneer-publications.com
Posted by: Paradise on: January 23, 2011
23rd January 2011
Please visit my latest blog on
Islamic Microfinance.
Posted by: Paradise on: July 24, 2011
3rd Sri Lanka Islamic Banking & Finance Conference will be held
at Galadari Hotel- Colombo on 25th July 2011 from 8.30 a.m. to 5.30 p.m.
Investment : Rs 7500.00 +VAT+NBT
• 30% discount for Scholars, Academics & Students
For further details please contact
Rozana
Tel: +94 773501246
Email: rozana@utoeduconsult.com
Aakif
Tel: +94 77466488
Email: aakif@utoeduconsult.com
Posted by: Paradise on: March 23, 2011
Mar 23, 2011 (LBO) –
Sri Lankan stock broker Lanka Securities has introduced a ‘Shariah’ compliant share list to meet the requirements of both local and foreign Islamic investors on the Colombo Stock Exchange.
The screening methodology for stocks is designed to ensure compliance with the Shariah laws and principles of Islamic finance, a statement said.
Lanka Securities, a joint venture between Pakistan’s First Capital Securities Corporation, Bank of Ceylon and Merchant Bank of Sri Lanka, said the list will be reviewed on a weekly basis to capture the impact of the price movements of the equities.
“LSL Shariah Compliant Securities List has been designed and developed to be used as a basis of Shariah complaint equity investments at the CSE,” it said.
Lanka Securities said the remaining companies are then further screened on a financial basis.
New firms listed in the CSE it will be added to the list if they meet the criteria.
The financial data on which the list is based on will be updated quarterly when the companies release the interim financials.
Lanka Securities said the business and financial screeners have been identified looking at the industry best practices along with the guidance set by the Accounting and Auditing Organisation for Islamic Financial Institutions.
http://www.lankabusinessonline.com/fullstory.php?nid=564943745
Posted by: Paradise on: March 10, 2011
There is a significant potential for Islamic banking in Sri Lanka with a prospective US$ 1.5 billion market size.
Amana Investments Managing Director Faizal Salieh in an interview with Arab News said there is a growing awareness even among the non Islamic market segments in the country.
Islamic financial institutions have been doing well in tapping the informal sector and combining it with the formal economy as showed by Amana’s own business experience over the past 12 years,” Salieh said. Salieh said Islamic finance is ideally suited to participate in the long-term financing of the country’s infrastructure requirements as it has the right product structures for that purpose.
The asset-based financing emphasis will be a positive factor in enabling real economic growth and promoting financial stability. Islamic financial institutions that subscribe to good governance standards and best practices would by definition become formidable assets in ensuring stability in the financial system.
http://www.dailynews.lk/2011/02/22/bus06.asp
Posted by: Paradise on: March 3, 2011
Halal Expo 2011 will be held at Galadari on 12th & 13th March 2011
The event will cover
Food & Beverages/ Islamic Banking & Finance/ Travel & Tourism/Education & Lifestyle
Conference
12th March 2011 from 9.00 a.m. to 4.00 p.m.
Registration – Rs 4,500 per delegate (Including Lunch and refreshments)
Key Topics under discussions
Entrance to the exhibition – Rs 100 per day
Another project by
Uto EduConsult (Pvt) Ltd.
No.82 B/1, Bauddaloka Mawatha,
Colombo-04.
Sri Lanka
Phone: +94-77-3501246
: +94 11 2554763
Fax : +94-11-5350589
Email : info@utoeduconsult.com
Posted by: Paradise on: February 18, 2011
<h1>Islamic Finance in Sri Lanka</h1>
18th February 2011
LOLC Al-Falah is the Islamic Business Unit of the LOLC group.
Applications are being called to fill Following Vacancies.
CLOSING DATE: 24th February 2011.
POST: CREDIT MARKETING OFFICERS/EXECUTIVES – ISLAMIC FINANCING
LOCATIONS: MATARA, ANURADHAPURA, NUWARA-ELIYA, BADULLA, NAWALAPITIYA, KOCHCHIKADE, CHILAW, MAWANELLA, TRINCOMALEE AND COLOMBO.
The positions will require selected candidates to market the Company’s complete range of Islamic Financial products including Lending facilities and Deposit mobilization in the above mentioned regions.
REQUIREMENTS:
POST : ACCOUNTANT
LOCATION : KATTANKUDI
This is an excellent opportunity for a young, self-motivated individual to assume the role of Branch Assistant Accountant with the potential to manage a small team in a challenging working environment. The post rquires the selected candidate to implement a precise execution of all finance processes in the assigned branch. The candidate must be a team player who can win the confidence of the team members at the respective service centre. Effective communication and organisational skills with the talent for multi-tasking will certainly be a definite edge.
Key Responsibilities:
Requirements:
How to Apply:
by POST
Send your Resume along with the contact details of two non-related referees to
The Recruitment Centre – LOLC Group
LOLC AL-FALAH Islamic Business Unit
Lanka Orix Finance Company Ltd
No. 100/1, Sri Jayawardenepura Mawatha,
Rajagiriya
PLEASE MARK THE POST APPLIED FOR ON THE LEFT HAND CORNER OF THE ENVELOPE AND THE CV.
by E-Mail
E-mail your CV to : careers@lankaorix.co
- PLEASE MARK THE POST APPLIED IN THE SUBJECT LINE.
on Line:
Apply online at www.topjobs.lk/lolc
Source: Sunday Observer- 13th February 2011 – Page 85
CLOSING DATE: 24th February 2011.
Posted by: Paradise on: February 6, 2011
6th February 2011
Amana Bank received the commercial Banking license from the Central Bank of Sri Lanka recently. Although they had ample time to complete all documentation formalities, they could apply for SWIFT code only after receiving the license. It might take at least about 6 weeks to get the SWIFT code get circulated. By the time it is ready most probably it will be towards March. If the Bank launch in March, it will have to publish the quarterly Financial statements which will not be attractive. Then again in April there will be long holidays in lieu of Sinhala/Tamil New Year celebrations. In the meantime, Bank also will have to transfer assets from Amana Investments Limited, most probably by a purchase agreement.
Therefore chances are very high that Amana Bank will have its soft opening towards early May 2011.
Posted by: Paradise on: January 27, 2011
27th January 2011
The Board of Directors of Amana Takaful PLC have opted to go for a Rs.750 million rights issue offering 500,000,360 new shares, subject to shareholder and regulator approval.
The proportion in which shares are issued will be one share for every one existing share. The proceeds from the rights issue is to be utilized for increased capital requirements by the regulator under its proposed capital plan and for future expansion strategies.
The current stated capital of the company is Rs. 500,000,360 and the issue and listing of shares would be done once approval has been obtained from the CSE and the Shareholders.
Each new share would be priced at Rs.1.50. Amana Takaful PLC, a subsidiary of Amana Investments, engages in life and general takaful insurance businesses primarily in Sri Lanka and Maldives. Amana group’s another subsidiary, Amana Bank Limited, recently obtained the regulatory nod to conduct commercial banking operations in Sri Lanka.
source: http://print.dailymirror.lk/business/127-local/33955.html
