Words of Wisdom - the Editor

Peace.
Got busy with a new project. So couldn’t add more news. Although I came across a fine article by a brother on the history and future of Islamic Banking. I was surprised to know that Islamic banking had beginnings in 1975. Wow. That’s almost as early as my birth. And I guess if there are enough like minded people any idea is bound to grow. I too used to wonder if I can invest without plunging into interest based transactions.

UK I noticed is taking some fine initiatives to promote Shariah Finance. Also came across a western brother or atleast who calls Muslims his brothers and sisters but laughs cynically at the DOW Islamic index as 'bending backwards' to accommodate those guys who have four wives and cut of peoples hands. O well some people just don't get it, do they?

Wednesday, November 5, 2008

Jadwa teams up with Malaysian firm

RIYADH: Jadwa Investment and Khazanah Nasional Berhad, the investment arm of the Malaysian government, have signed a partnership agreement. Under the terms of the agreement, Khazanah will acquire an equity stake in Jadwa worth SR284.25 million, which represents 10 percent of Jadwa's capital.

This partnership will provide Jadwa with access to investment opportunities in Southeast Asian markets, where Khazanah enjoys a strong foothold. In addition, the agreement will foster the exchange of know-how and expertise in the area of Islamic investment banking in which Malaysia is a pioneer.

Khazanah manages the strategic investments of the Malaysian government and is chaired by the prime minister of Malaysia. The company has stakes in more than 50 companies worldwide with assets under management (AUM) in excess of $20 billion, diversified over several sectors including banking, energy, IT, airport management, infrastructure, telecommunications, vehicle manufacturing and real estate development.
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