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  • 3238
  • Date :
  • 7/17/2003

Investment firms to form Islamic banking alliance


A memorandum of understanding (MoU) was announced yesterday between Malaysia's investment bank Commerce International Merchant Bankers (CIMB) and Al Tawfeek Company for Investment Funds.The Al Tawfeek Company is one of the world's leading Islamic financial institutions and part of the Dallah Al Baraka Group, of Jeddah, Saudi Arabia.The MoU is aimed at creating the world's first truly global Islamic investment banking alliance. The announcement was made by CIMB chief executive officer Nazir Razak.

"We believe that the proposed alliance between CIMB and Al Tawfeek will form the foundation for building a formidable global Islamic investment banking franchise," he said.

"The memorandum of understanding will open investment channels between two dynamic regional economies and for the first time give institutionalized access to Middle Eastern investors to Malaysia's huge and prospering Islamic capital markets.

"Islamic investment banking has been marginalized as a force in international finance because Islamic financial institutions have remained regional, said Mr Razak. By joining forces and linking up Middle Eastern and Southeast Asian capital markets Islamic investment banking could become a global force to be reckoned with.

Taken From: http://www.hindustantimes.com/news/181_307784,00050002.htm

Pak Islamist leader to visit India 'with message of peace'


Pro-Taliban Jamiat ulema-i-Islam (JUI) leader from Pakistan Maulana Fazl-ur Rahman is going toIndia to meet members of the Indian branch of his group and press for peace between India and Pakistan, his spokesman said on Monday.

Rahman, a member of Pakistan's Parliament, will lead a four-member delegation of his party. He will travel to India on Tuesday on the Lahore-Delhi bus, spokesman said. The Indian branch of the JUI was formed in 1947.

The Jamiat Ulema-e-Hind, which is sponsoring Rahman's visit, said he will cross the border on Tuesday at Wagah inPunjab and visit the Golden Temple and Chandigarh. He will also visit an Islamic religious school before arriving in New Delhi on Wednesday evening.

Taken From: http://www.hindustantimes.com/news/181_307784,00050002.htm

ISESCO to hold course for inclusion of human rights in school curricula


The Rabat-based Islamic Scientific, Educational and Cultural Organization (ISESCO), in conjunction with Libya-based World Islamic Propagation Organization (WIPO), will be holding a course in the Burkinabe capital, Ouagadougou, from July 21 – 27, the aim of which is to propose ways and means of including the subject of human rights in the school curricula of Muslim countries. The training course will seek to project human rights as perceived by Islam, compared to the contemporary concept of human rights. Attending this course would be 30 educationists who specialize in the preparation of school curricula and syllabuses in Islamic Studies, inBurkina Faso.

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

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