Germany’s first Islamic Bank, a unit of Kuveyt Turk Bank of Turkey, is set to open by March of 2010, in the city of Mannheim. According to statistics from the Berlin government, there are approximately 4 million Muslims in Germany. Germany’s biggest bank, Deutsche Bank, operates an Islamic investment arm, DWS Noor Islamic Funds, in the Middle East and North Africa. One German state, Saxony Anhalt, has raised 100 million euros ($140 million dollars) internationally via Sukuk (Islamic bonds).

Full Story Here: http://www.earthtimes.org/articles/show/301380,germanys-first-islamic-bank-to-open-in-early-2010.html

Kuwait Finance House (KFH), the largest Islamic lender, has signed a $242 million deal for a luxury condominium project in Chicago, Ill., that will increase their investments in America. KFH is the 95 percent owner of the Ritz-Carlton Residences, which is a 40-story project already under construction, with development expected to be complete before 2012.

Full Story Here: http://www.globest.com/news/1567_1567/chicago/182857-1.html?st=rss

Unicorn Investment Bank (Unicorn), the Bahrain-based financial services group, has been named Best Investment House as part of the 2009 Islamic Business and Finance Awards organized by CPI Financial in Dubai. Unicorn has offices in a variety of locations, including Chicago.

Full Story Here: http://www.albawaba.com/en/countries/Bahrain/258496

Dubai-based Islamic Business & Finance Magazine has named Dow Jones Islamic Market Indexes as the “Best Index Provider Shari’ah Compliant Indexes.” According to Dow Jones’ promotional materials, the Dow Jones Islamic Market Indexes were introduced in 1999 as the first indexes intended to measure the global universe of investable equities that pass screens for Shari’ah compliance. An independent Shari’ah Supervisory Board counsels Dow Jones Indexes on matters related to the compliance of index-eligible companies.

Full Story Here: http://finchannel.com/Main_News/Business/54523_Dow_Jones_Indexes_Wins_18th_Award_for_Its_Islamic_Market_Index_Series_/

Global accounting heavyweight Deloitte Touche Tohmatsu has recruited Daud Viacary Abdullah, as global leader of Deloitte’s Islamic Finance Industry.  The Islamic Finance industry is rapidly expanding, which presents opportunities for companies in various businesses around the world,” said Abdullah. Deloitte member firms have formidable experience and delivery capabilities in all service lines around Islamic Finance,  he added.

Full Story Here: http://www.accountancyage.com/accountancyage/news/2254064/deloitte-expands-islamic