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The Dow Jones Islamic Fund
Sunday, December 23, 2007
The Dow JonesSM Islamic Fund (symbol: IMANX) invests in Shariah -compliant companies, in response to the needs of Muslim investors, who not only want to have a financially rewarding investment, but a Shariah compatible one as well. Since June 2000, IMANX has provided Muslims with an investment option based on Islamic principles.

The Dow Jones Islamic Fund is offered by Allied Asset Advisors, a subsidiary of the North American Islamic Trust (NAIT). Allied Asset Advisors is the registered investment advisor and manager of the Fund.

The Fund seeks growth of capital while adhering to Islamic principles. The Fund invests at least 80% of its net assets in domestic and foreign securities included in the Dow Jones Islamic Market Indexes (Indexes), as well as up to 20% of its net assets in securities chosen by the Fund's Investment Advisor that meet Islamic principles. The Fund consists solely of common stocks. It includes, among others, shares of stocks from the Dow Jones Islamic Market US Index, which tracks American companies that meet Islamic principles.

The Indexes is advised by a Shariah Supervisory Board of six prominent Islamic scholars from six countries. The Investment Advisor is advised by a Board of Trustees of prominent Islamic scholars and community leaders from the United States.
The Dow JonesSM Islamic Fund offers the following benefits:

• Shariah compliance- The Fund adheres to the criteria developed by the Shariah Supervisory Board composed of internationally renowned scholars. Based on these criteria, the following businesses are generally excluded: Alcohol, Tobacco, Pork-related products, Conventional financial services (banking, insurance, etc.), Weapons and defense, Entertainment (hotels, casinos/gambling, cinema, pornography, music, etc.) The Fund does not invest in interest-paying instruments frequently used by mutual funds as overnight or temporary investments, and instead may hold cash on a temporary basis.

• Diversification - The Fund offers you diversification with a portfolio of over 300 Shariah Compliant companies in diverse business sectors.

• Low Expenses - The Fund is a no load fund with one of the lowest annual fees of any Shariah compliant fund available. (Source: Allied Asset Advisors, 3/27/2006)

• Accessibility and Flexibility -The Fund is available at Charles Schwab One Source, the largest mutual fund marketplace. In addition, we are available through Ameritrade, and TD Waterhouse. We offer flexible accounts and services including telephone purchase and redemption, and check writing.

• Active Portfolio Management - An actively managed portfolio enables the Fund to take advantage of future opportunities in the market while staying true to Islamic principles. Among the securities that meet Islamic principles, the investment advisor determines a security's attractiveness for purchase based on a number of factors, including its anticipated value and record of earnings growth, among other things.

The Fund invests in foreign securities which involve risks relating to adverse political, social and economic developments abroad, as well as currency risks and differences in accounting methods.

In selection of stocks, the Fund adheres to the criteria developed by the Shariah Supervisory Board of the Dow Jones Islamic Market Indexes composed of internationally renowned scholars. The Fund also does not invest in interest-related instruments and may hold cash on a temporary basis. It is possible that such restrictions may result in lower overall Fund performance than those mutual funds which are not subject to such restrictions.

The prospectus contains more complete information, including risks, fees and expenses related to an ongoing investment in the Fund. Please read the prospectus carefully before you invest or send money.

The Fund has been referred to by Morningstar, Cnnfn, The Wall Street Journal and Crain's Chicago Business.


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posted by Beebee @ 9:42 PM   0 comments
World’s Largest Islamic Bond Market
Sunday, December 16, 2007
Financial Markets

RAKIA lists first sukuk on DIFX, world’s largest islamic bond market
Posted: 06-12-2007 , 13:47 GMT

Ras Al Khaimah Investment Authority (RAKIA) today listed a $325 million Sukuk (Islamic bond) on the Dubai International Financial Exchange (DIFX), taking the DIFX’s total listed value of Sukuk to $14.105 billion – the largest value of any exchange in the world.

RAKIA has raised the money for its Al Marjan artificial island tourism project being built in the Gulf off Ras Al Khaimah in the northern United Arab Emirates.

Dr Khater Massaad, Chief Executive Officer of RAKIA said: “Investors have shown great interest in this first Sukuk to be issued by RAKIA, as we move forward with the Marjan development including upmarket hotels, villas, a marina and a theme park. As the region’s international exchange with high regulatory standards, the DIFX enhances our visibility to investors and underpins their confidence in our Sukuk.”

Per E. Larsson, Chief Executive of the DIFX, said: “Sukuk are a rapidly growing asset class, with global issuance rising 63% to $26.9 billion in the first nine months of 2007, from the same period last year. The DIFX region is playing a central role in this expansion and the exchange will remain at the forefront of the sector.”

RAKIA’s Sukuk has been issued by RAKIA Sukuk Company Limited and matures in 2012. It is based on an Al-Wakala structure. The lead managers for the issue were Credit Suisse, HSBC and NBD Investment Bank.

Hamed Ali, Executive Officer of the DIFX, said: “Islamic finance will increasingly be a growth area for the exchange in areas such as structured products as well as Sukuk. Our securities suit a wide range of international and regional investor requirements.”

© 2007 Al Bawaba (


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posted by Beebee @ 11:40 AM   0 comments
Malaysian Products Power Their Way To Global Market
Tuesday, December 4, 2007
Malaysian Products Power Their Way To Global Market

PETALING JAYA, Dec 4 (Bernama) -- Made-in-Malaysia products are now powering their way into the European market, including the United Kingdom.

Domestic Trade and Consumer Affairs Minister Datuk Shafie Apdal said Malaysian products were manufactured to the highest standards, meeting and often exceeding international quality standards benchmarks.

He said Malaysia had a distinct advantage in the supply of halal products and services.

"For not only are the products of excellent quality and presentation, our processes for inspection and certification are second to none.

"Furthermore, Malaysian products are recognised as being produced under stringent health and safety standards, and in a place where there is a clear commitment to responsible care for the environment," said Shafie at the Supplier Conference 2007: Partnering with Tesco UK, here.

On Malaysian halal products, the minister said they were widely perceived as a reliable brand conforming to diverse market requirements which met global standards of quality, product and service integrity, and could be targeted for non-Muslims as well.

"What I want to stress is the importance of companies to be alert and responsive to new market opportunities, not just in Malaysia but, as we are witnessing today, across the world," he added.

The conference, jointly organised with Tesco, provides guidelines to Malaysian small and medium industries to enable them to know the detailed requirements of the UK market.

Shafie also told a press conference that there would be no price control for the upcoming Christmas and Hari Raya Aidiladha celebrations.

"However, this does not mean that businesses should raise the price of controlled items. The government will take action on this matter," he said.



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posted by Beebee @ 11:52 PM   0 comments
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