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Saudi banks recognised at Islamic fund awards in Abu Dhabi
Source: BI-ME , Author: Posted by Bi-ME staff
Posted: Wed April 20, 2011 4:23 pm

UAE. Global leaders in Islamic finance gathered this week at the Amanie-Failaka Symposium and Failaka Islamic Fund Awards, held at the Intercontinental Hotel in Abu Dhabi, which drew key decision-makers from some of the world’s biggest Islamic financial institutions and Islamic divisions of some of the world’s largest banks.

“The Amanie-Failaka Symposium and Failaka Islamic Fund Awards are extremely valuable events in terms of bringing together leading fund managers and bankers who are active in this space,” said Mark Smyth, Managing Director, UAE-based Failaka Advisors.

“Recognising the significant achievements of top-performing managers is something we’ve been doing now for six years. While we have a number of return winners this year, it does spotlight clearly those who lead the sector. There is, however, always room for others,” Smyth added.

Selected from a strong field comprising hundreds of Islamic funds and fund managers from across the GCC, Asia, the US and Europe were, Saudi Arabia’s Jadwa Investment and Malaysia’s AmIslamic Funds Management.

The Failaka Islamic Fund Awards set the industry standard and raise the profile of Islamic finance. It is an extremely important event for all industry stakeholders, particularly Islamic fund managers and distributors. Events such as this are extremely important in furthering understanding of just how much economic potential this sector represents – I see the Failaka Islamic Fund Awards as the Islamic finance equivalent of the Cannes Film Festival,” said Datin Maznah Mahbob, chief executive officer, AmIslamic Funds Management.

For more information please visit: afs2011.amaniedubai.com.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

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UAE. There are more negative than positive factors likely to impact oil prices in the short term. With current oil net-long speculative positions at an elevated level, a slight change in traders' outlook would lead to a significant selloff.
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INTERNATIONAL. The climate has rarely been so favourable to a resolution of the conflict. The chaos that is sweeping the Middle East has been a game-changer in relation to Israel and the Arab countries.
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SAUDI ARABIA. The manager/directors of any company that is incorporated in Saudi Arabia should start to consider what changes may need to be made to the company's articles of association or bylaws.
UAE. There are more negative than positive factors likely to impact oil prices in the short term. With current oil net-long speculative positions at an elevated level, a slight change in traders' outlook would lead to a significant selloff.
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