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The Islamic Development Bank group’s International Islamic Trade Finance Corporation has signed a Dh73m ($19.8m) trade finance agreement

Oman Investment Fund (OIF) has become a foreign strategic partner of PetroVietnam Insurance (PVI). OIF’s Funderburk Lighthouse has acquired shares worth some $42.5m, representing 12.6%

Another star of the Gulf’s credit-fuelled boom years, Gulf Finance House (GFH) has reached agreement with creditors to restructure its debt but has been further downgraded by ratings agencies.

Figures are starting to emerge for the extent of creditors' exposure to Dubai and its government-related entities. The Wall Street Journal (WSJ) reported that European banks have some $83.7bn-worth of UAE exposure, including UK-based banks with $49.5bn, French banks with $11.3bn, German with $10.2bn, Dutch

Gulf Co-operation Council (GCC) head Abdelrahman Al-Attiyah told Al-Arabiya television on 24 November that will propose

Not all the headlines are positive, with wealthy Al-Thanis involved in controversial projects in London and Paris, but domestic indicators are good, business is building in Asia and the mega funds are back in action

As international financial sanctions tighten, Iran has slipped off the radar of most banks, but import letters of credit are still being issued by Iranian banks and may be confirmed by a handful of western counterparts

Banks risky but Qatar does well, says study, Batelco fined by regulator for sector monopoly, Al-Bazie appointed deputy finance minister, €1bn sukuk delayed, Warba Bank approval, BD50m investment in IWPP

The clarity of GCC legal systems and their treatment of foreign creditors have fallen under the spotlight as two debt-laden Saudi conglomerates troubles’ percolate through into the wider trade finance and insurance communities

A Scotland-based not-for-profit organisation, the Islamic Finance Council (IFC), has been appointed by the Scottish government to frame the devolved administration's Islamic finance strategy; it has so far given the Scots over 15 different recommendations. "There are a lot of fund managers in Scotland and a lot of them are already involved in Islamic finance.

Published in June 2009, this map provides an overview of global Islamic finance markets. Charts and graphics include Sharia-compliant financial assets by country (Dec 2007), Takaful operators by country (2008), Leading Islamic banks by asset values (Dec 2007), and Organisation of the Islamic Conference (OIC) inter-regional trade

It is a question often asked, the frequent subject of private conversations and regional chat show debates: how Islamic is Islamic finance?

The Islamic financial system has not been immune to the effects of the global financial crisis, but industry players remain confident, and are positioning themselves for when markets regain momentum

It is unsurprising that the Gulf’s first sukuk default case is in Kuwait, where conventional and Islamic investment companies are under severe strain

GSN lists some – but not by any means all – of the key players operating in the industry