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UMEX Trader is set to become the first trading platform to offer institutional investors with the ability to view the entire universe of Sharia compliant securities for each of the world’s main markets. The system provides a fast, easy to use and transparent method for institutional clients and wealth managers to trade in over 10,000 Sharia compliant securities from around the globe. 

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MAKING NEWS HEADLINES

Germany /Islam-Finance: Deutsche Bank awarded for its Islamic Finance business Deutsche Bank has won Islamic Finance news “Best Islamic Trustee/Custodian 2011” Award. In addition, Deutsche Bank received the awards for “Project Finance Deal of the Year 2011″ and “Saudi Arabia Deal of the Year 2011″ recognizing Deutsche Securities Saudi Arabia’s successful execution of Saudi Aramco Total Refining and Petrochemical Company (SATORP) Sukuk Certificates. ... more

Deloitte launches first Middle East Tax Chief Compliance Officer Forum UAE. Deloitte is proud to announce the inaugural The Deloitte Middle East Tax Chief Compliance Officer (CCO) Forum to take place on January 31 and February 1 in Dubai, UAE. ... more

QUOTE

SHARIA UMEX HAS BEEN TIMELY SAYS SHEIKH HUSSAIN HAMID HASSAN – CHAIRMAN OF THE SHARIA COMMITTEE OF DUBAI ISLAMIC BANK "Having been through its early days, it is now time for the Islamic banking and finance sector to strengthen and expand industry infrastructure to ensure sustainable global operations," said Sheikh Hussain Hamid Hassan, a prominent Sharia scholar and chairman of Sharia Supervisory Board of Halal Industries Group. "Sustained growth results only from a stable and level playing business environment. Restricted access to capital markets, for the SME sector in particular, means inefficient and less sustainable economic backstay – the recent global crisis is testimony to that. UMEX is indeed a much needed and timely initiative.Such a platform would provide easy access to SMEs as well as encourage businesses to operate in an ethics-driven manner (making them inherently Islamic, as justice and ethics are among the ultimate objectives propagated by Sharia)," Sheikh Hussain continued ... more

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What is Sharia?

Sharia (meaning "way" or "path") provides guidelines as to the requirement by which Islamic life should be conducted; this includes standards for food, family life, and business as well as daily financial dealings and transactions. The restrictions of Sharia such as the prohibition of investing in companies involved in alcohol, tobacco and gambling mean that there is a very close association between Sharia investment and ethical investment.

Additionally Sharia finance prohibits Riba - (Usury - or interest), whereas the sharing of risk and rewards in financial transactions is encouraged.

Islamic Glossary

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