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  • Date :
  • 8/18/2003

Islamic Bank takes investors' interest

Investor interest in the Islamic Bank of Thailand remains high, whether it is in taking a direct shareholding in the bank or to co-invest in local businesses, President Anant Tangtatswas has said.

"Several Muslim countries have expressed interest in investing with the bank ... we're working on several deals now,'' he said.

The Islamic Bank of Thailand was established earlier this year with registered capital of one billion baht.

Paid-up capital currently stands at 700 million baht, with the Finance Ministry holding around 40%, the Islamic Bank of Brunei around 20% and other institutions the remainder.

Prime Minister Thaksin Shinawatra will preside over a formal opening ceremony for the bank today at the Bangkok International Trade & Exhibition Centre.

The bank was established to offer services to the six to 10 million Muslims living in Thailand. Operations are firmly in line with Islamic law, which forbid the payment or calculation of interest.

Mr Anant estimates potential deposits by Muslims living in Thailand in the tens of billions of baht. With the Islamic Bank of Thailand, residents now had the opportunity to access financial services fully in keeping with Islamic law.

Taken From: http://www.bangkokpost.com/Business/18Aug2003_biz56.html

Egypt: Collective marriage for disabled held


A collective wedding ceremony for 20 disabled couples has been held in one of the hotels here. The party, which was organized by the society for the disabled, was attended by among others, government ministers, sports personalities, media men, and the entertainment was provided by 15 male and female singers. The chairman of the society’s managing council, Shihata Khamis, said that this was the fifth such function to be held by his society, and this year the theme was “Natural Life for Every Disabled.”

Taken From: http://www.islamicnews.org/english/en_daily.html

Islam, Democracy Can Cope: Thai Scholars


Islam is a religion with democratic characteristics that contradict with the dictatorial traits and rigidity many countries with Muslim majority display, Muslim scholars attending an international seminar in Pattani, southern Thailand said Saturday, August 16.

The Indonesian experience with democracy showed that Islam and democracy could cope together and that democracy really worked in the most populous Muslim country, Dr. Jamhari Makruf, an Indonesian scholar, told theNation Newspaper.

Jamhari, the executive director of the Jakarta-based Center for the Study of Islam and Society (PPIM), deplored injustices against Muslim communities from within and from outside as the main causes that have forced many Muslims to turn to “militancy”.

Pointing to the "appalling" political and economic conditions that exist in Muslim-dominated areas likePalestine,Bosnia, Chechnya, Afghanistan and Iraq, he said Islam was victim of a narrow interpretation.

Several Muslim scholars participated in the seminar at the Prince Songkhla University in Pattani.

Taken From: http://www.islam-online.net/English/News/2003-08/17/article10.shtml

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