Police clash with anti-lockdown protesters in London    Nile water levels continue to decline in Sudan after devastating floods: Ministry    New UK lockdown likely sooner rather than later, ex-advisor warns    Lebanon's army finds firework cache at devastated Beirut port    Two dead as rare storm hits central Greece    Manchester United working hard in the transfer market, says Solskjaer    Aguero could be out of action until November: City boss Guardiola    Leicester in talks with Roma for Under, says coach Rodgers    India parliament session may be cut short as COVID-19 cases among lawmakers rise: Sources    Taiwan scrambles fighters as Chinese jets again fly near island    Egypt's nominee is out of the race for WTO director-general    Cairo Ring Road to be expanded from 8 lanes to 14: Transport minister    Giza Plateau official denies rumours two highways are under construction at archaeological site    Egypt's NEA announces results of Senate election run-offs    Kuwaiti NBK to launch Meeza prepaid cards in Egyptian market    Egyptian documentary 'Lift Like a Girl' premieres in Toronto to positive reviews    Climate theories on Sudan    Egypt's culture minister receives UNESCO registration of the Palm on List of Human Heritage    Egyptian insurance companies' premiums 9.6% up in five months    Egypt's President Sisi names new head of anti-corruption watchdog    Egypt's c.bank offers 18 bln pounds T-bills on Sunday    EgyptAir offering discounts for some international flights    Egypt records 212 new coronavirus cases, 14 deaths on Saturday    Egypt to require PCR coronavirus tests for airport travelers    Egypt sends 125 tonnes of glass by sea to Beirut    Legend Messi officially wants to leave Barcelona, hands transfer request    Global smartphone sales drop 20% in Q2, yet Apple's iPhone sales steady    Sisi: Egypt keen on establishing development projects with Iraq, Jordan    Egyptian megastar Amr Diab releases new hit music video    Making of Harry Potter will be available for fans at new park in Tokyo    Egypt's Senate elections official results to be announced Wednesday    Netflix Egypt is bringing megastar Amr Diab back with a new original    Egypt reopens Rafah border crossing for first time since April    Egypt's senate elections 2020 trending on social media in few days    African Champions League final will be played on Oct. 16-17, CAF says    No room to delay Egyptian Premier League games – EFA's board member    The Facebook Preacher's Search for Fame, and Egypt's Economy    Egypt calls on UNSC to address oil spill risks off Yemen coast    Egypt economically strong in face of COVID-19, reforms ongoing: International Cooperation Minister    Arafa Holding reports $144,000 COVID-19-related losses in April    Egypt's efforts in Libya to activate free will of Libyan people: Al-Sisi    Hyksos campaigns were internal takeover, not foreign invaders: study    COVID-19 affects Egypt sporting clubs    COVID-19 will soon turn to seasonal like swine flu: Presidential Health Advisor    ‘Egypt's Support' coalition convenes to discuss its Senate election list    Robbery attempt leads to discovery of Ptolemaic monuments in Qena    Flouting international guidance, Ethiopia unilaterally starts filling its Nile dam    Zaha speaks out after online racial abuse    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Reuters launches a gateway to Islamic finance
Published in Daily News Egypt on 30 - 03 - 2010

CAIRO: Thomson Reuters launched earlier this month a new service that caters to the Islamic finance industry, a gateway that provides up-to-date information on the market, services and sharia-compliant companies.
“Despite its image as an emerging industry, Islamic finance has now grown to be worth around $1 trillion and the Thomson Reuters Islamic Finance Gateway opens up this world of opportunities for [the] financial market,” said Rushdi Siddiqui, global head of Islamic finance at Thomson Reuters.
The Islamic Finance Gateway offers detailed information about and links to Islamic finance professionals, rating agencies, industry standards bodies, Islamic finance hubs, index providers, consulting firms, 400 sharia scholars and Islamic subsidiaries from over 25 countries.
Market professionals can access comprehensive, multi-asset class information on a wide range of Islamic finance instruments such as sukuks, Islamic leveraged loans, funds, the Islamic money market, takaful and currencies.
Embedded in the Gateway are real-time news stories from Reuters and correlation analytics for Islamic versus conventional market views. The Gateway also includes news of related industries to Islamic finance, such as the $641 billion halal food sector.
Publicly listed sharia-based and screened companies and Islamic or commodity ETFs can be traded over the Thomson Reuters Trading for Exchanges (TRTex) platform, which has been integrated within the Gateway.
Partnering with Thomson Reuters, Egyptian company IdealRatings is providing a unique heat map of sharia-compliant and sharia-based companies, which are screened according to global index providers' methodologies as well as those of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and Malaysia's Securities Commission.
They are complimented by more than 100 publicly listed sharia-based companies in regions and countries like GCC, Turkey, Pakistan, Malaysia and the UK. The Gateway also provides a link to IdealRatings sharia-compliant equity screening service.
“The Gateway is really a one-stop shop for Islamic finance. It covers all the asset matters including public equities,” Yussri Helmy, CEO of IdealRatings, told Daily News Egypt.
His company launched in Egypt three years ago backed by the Technology Development Fund, and advised by Ideavelopers. It already services a number of banks, index providers and brokers in the Islamic finance industry in the US, UK, Germany, Switzerland, Saudi Arabia, Kuwait and Bahrain.
Ideavelopers, a subsidiary of EFG-Hermes, and fund advisor for the Technology Development Fund I and II, partners with technology entrepreneurs and supports SMEs by providing venture development services.
Helmy said that Islamic finance has a bright future globally. “The financial crisis put a spotlight on Islamic finance as the possible alternative or a new methodology even without the religious aspect of it. The sharia-compliant equities outperformed the conventional ones, especially during the meltdown,” he said.
The Islamic finance industry slowed down during the crisis but not as much as conventional finances because it does not have the borrowing and debt structures which suffered the most and were the cause of the crisis.
Although IdealRatings is currently providing only Islamic finance market services, it is looking to expand into other sectors, following global trends.


Clic here to read the story from its source.