Professional Documents
Culture Documents
TOPICS
Introduction to Kuwait Finance House Background of Kuwait Finance House (Malaysia) Berhad KFH Experience In Fund Management Overview of Islamic Funds Types of Islamic Funds Asset Classes Socially Responsible Investing (SRI) & Shariah Compatible Investing (SCI) Challenges & Way Forward
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KFH AT A GLANCE
Incorporated and headquartered in the State of Kuwait 1977 Ownership : - Kuwait Investment Authority - Public Authority for Minors Affair - Kuwait Awkaf Public Foundation - General Public 25.01% 10.78% 8.47% 55.74% 100.00%
KFH is one of the largest Islamic banks in the world, and is involved in corporate, investment, commercial and retail banking. The Government of Kuwait owns 44.26% of the equity, and the general public holds the remaining shares
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TURKEY
KUWAIT BAHRAIN
TOPICS
Introduction to Kuwait Finance House Background of Kuwait Finance House (Malaysia) Berhad KFH Experience In Fund Management Overview of Islamic Funds Types of Islamic Funds Asset Classes Socially Responsible Investing (SRI) & Shariah Compatible Investing (SCI) Challenges & Way Forward
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Bank Negara announced the issuance of three new Islamic banking licenses to foreign Islamic banks.
KFH (Labuan) Berhad, a wholly owned subsidiary of KFHMB, was granted offshore banking license.
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www.kfh.com.my
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TOPICS
Introduction to Kuwait Finance House Background of Kuwait Finance House (Malaysia) Berhad KFH Experience In Fund Management Overview of Islamic Funds Types of Islamic Funds Asset Classes Socially Responsible Investing (SRI) & Shariah Compatible Investing (SCI) Challenges & Way Forward
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TOPICS
Introduction to Kuwait Finance House Background of Kuwait Finance House (Malaysia) Berhad KFH Experience In Fund Management Overview of Islamic Funds Types of Islamic Funds Asset Classes Socially Responsible Investing (SRI) & Shariah Compatible Investing (SCI) Challenges & Way Forward
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SHARIAH RULING IN RELATION TO INVESTMENT SHARIAH RULING IN RELATION TO INVESTMENT FUNDS FUNDS
Investment funds are permissible by Shariah. Because funds are a form of collective investment that continue throughout their term, the rights and duties of participants are defined and restricted by the common interest, since they relate to third parties rights. Hence, in case the Fund is managed on the basis of agency the shareholders / unitholders waive their right to management, redemption or liquidation except in accordance with the limitations and conditions set out in the statutes and by-law. (AAOIFI Financial Accounting No 14, p. 422)
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TRUSTEE
Custodian of Assets
Shariah Committee
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TOPICS
Introduction to Kuwait Finance House Background of Kuwait Finance House (Malaysia) Berhad KFH Experience In Fund Management Overview of Islamic Funds Types of Islamic Funds Asset Classes Socially Responsible Investing (SRI) & Shariah Compatible Investing (SCI) Challenges & Way Forward
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Hedge Funds
ISLAMIC FUNDS
Property Funds
Sukuk Funds
REITs Funds
Shipping Funds
Commodity Funds
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TOPICS
Introduction to Kuwait Finance House Background of Kuwait Finance House (Malaysia) Berhad KFH Experience In Fund Management Overview of Islamic Funds Types of Islamic Funds Asset Classes Socially Responsible Investing (SRI) & Shariah Compatible Investing (SCI) Challenges & Way Forward
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ASSET CLASSES
Assets (investment portfolio) need to be screened to ensure its compliance with Shariah. Types of assets : a) Financial assets Shares Sukuk Etc b) Non-financial assets Real property Aviation Shipping Commodities Infrastructure projects Etc
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EQUITY SCREENING
Equity / Shares Core Activities : No Prohibited Activities Financial Ratio : Dow Jones Islamic Index, FTSE Islamic Index etc Purification Tainted Income
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TOPICS
Introduction to Kuwait Finance House Background of Kuwait Finance House (Malaysia) Berhad KFH Experience In Fund Management Overview of Islamic Funds Types of Islamic Funds Asset Classes Socially Responsible Investing (SRI) & Shariah Compatible Investing (SCI) Challenges & Way Forward
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TOPICS
Introduction to Kuwait Finance House Background of Kuwait Finance House (Malaysia) Berhad KFH Experience In Fund Management Overview of Islamic Funds Types of Islamic Funds Asset Classes Socially Responsible Investing (SRI) & Shariah Compatible Investing (SCI) Challenges & Way Forward
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CHALLENGES
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CHALLENGES IN DEVELOPING BRUNEI INTO A REGIONAL HUB FOR ISLAMIC FUND MANAGEMENT
1. To close the gap between Brunei Shariah views & GCC / global Shariah views Shariah harmonization & convergence. 2. To provide a wide range of Shariah compliant assets, products & services to meet the needs of the investors. 3. To create a vibrant market with a good regulatory, legal, tax, accounting and Shariah framework.
4. To educate investors and enhance their awareness on Brunei financial products, instruments and services.
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Both industry players and regulators should strive to improve value proposition of the Islamic market. Build credibility by improving earning power, transparency, global Shariah compliance, excellent customer service and efficiency of delivery channels of Islamic financial products. Regulators should strive to create a uniform reporting and disclosure basis of Islamic financial products. Islamic financial market should increase market share and increase cross-border expansion. Increase investment in human resource capability. Knowledge sharing between different Islamic markets.
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