First Global Investments to offer Islamic Financial Advisory Services

25th September 2009 First Global Investments commences Islamic Financial Advisory services with the assistance of internationally acclaimed team of resource personnel. Following services will be offered. • Setting up Islamic Banking windows, independent branches or subsidiaries from scratch • Identifying product gaps in the Islamic market • Training and building a career in Islamic Banking...

LOLC expand its Islamic arm with more services

24th September 2009 LOLC through its subsidiary Lanka ORIX Finance Company Ltd. established a dedicated Islamic Business Unit LOLC AL-Falaah in late 2007 in an effort to ensure this area of financing is handled in accordance with Sharia’a laws, thereby guaranteeing consistency with Islamic principles and concepts at all times. “LOLC Al-falaah” recently introduced the...

MUSHARAKA FACILITY FOR TELECOM BUSINESS VENTURE

09th October 2009 Negotiations with investors went on very well but put on hold due to a Sharia'a Ruling.  Key person of the proposed project was employed elsewhere and wanted to work on this project paralelly. Sharia'a advisors instructed that Key person has to obtain the consent of his employer or to leave the job and get...

Employment Opportunity – URGENT

24th September 2009 Local Islamic Finance Institution is looking for a person with experience in insurance (conventional or Takaful) and with Islamic Finance knowledge. Preferably with qualification in Islamic Finance,, for immediate employment. If interested, please send an email to azharhome@hotmail.com or call me on +773 615666.

Islamic Finance Interest Group to lobby for Budget blessings

23rd September 2009 By Santhush Fernando Sri Lanka’s industry umbrella set up to develop alternative finance- Islamic Finance Interest Group, will hand over its proposals to the Government, to be included in the forthcoming Budget Proposals 2010 scheduled for November this year. Speaking to The Bottom Line, member of the Islamic Finance Interest Group and...

Ceylinco Takaful suspension further extended

23rd September 2009 The Insurance Board of Sri Lanka has further extended the suspension of registration imposed on Ceylinco Takaful Ltd. in respect of General Insurance Business in terms of section 18 (4) (b) of the Regulation of Insurance Industry Act, No. 43 of 2000 for a period of three weeks commencing from 4.31 pm...

Rs. 93 million due to Ceylinco Profit Sharing

A sum exceeding Rs. 67 million has been released to Sithy Rameeza Sahabdeen wife of a Provinical Council Minister, between 2004 and 2005. She was a chairperson of four different companies to which these monies were released periodically over one and a half years.  The four companies operated under the names of M/s Serendib Manufacturers Lanka...

Ceylinco Profit Sharing accused of mismanaging depositors funds

14th September 2009 By Bandula Sirimanna Close on the heels of the collapsed Golden Key Credit Card Company, another Ceylinco venture based on Islamic Shariah Law, Ceylinco Profit Sharing Investment Company Limited (CPSICL) is having a severe financial crisis with 10,000 depositors demanding their money back. Their total investment amounts to Rs.800 million. Depositors of...

Certified Shari’a Adviser and Auditor (CSAA)

02nd September 2009 CSAA program is designed to equip candidates with the requisite technical understanding and professional skills on Sharia’a compliance and review processes for the international Islamic banking and finance industry.  Through the CSAA program, candidates will gain advanced knowledge on: Roles and functions of various Sharia’a compliance and review processes in financial institutions....

MA and MSc in Islamic Finance – DURHAM UNIVERSITY

02nd September 2009 Two new postgraduate taught programmes from a leading University and School specialised in Islamic finance and banking studies and research with over twenty years of experience. The Research Degrees offered in Islamic Finance are recognised by the Saudi Ministry of Higher Education, the Central Bank of Bahrain and Bank Negara, the Central...