Thursday, April 16, 2009

Reuters Islamic Finance in Asia and eyes closed REIT


Kuala Lumpur, April 16 (Reuters) - Islamic Finance Real Estate Investment Trust bank lender (REIT) to implement Sharia, and to keep employees at work, despite an economic slowdown, plans, its executive director, said on Thursday.
Mohamed Azahari Kamil said the Islamic finance industry, to help slow the time, the demand for other methods.
"Investors always in alternative asset classes to diversify their portfolios and we are seeing is that the property always the center of economic development in this area has been done in confidence," Azahari said in the Reuters Islamic Banking Summit.
That the most common in Malaysia, are investing in has been expelled "of features, based on assessment of the original, in addition, there is a lot more influence, or assets in the region on more than speculation" was.

CLSA estimated that half of the wealth of Malaysia, Singapore, South Korea and India on the property.
Kitahara said Asian Finance is available over 300 million each. S is for infrastructure and real estate in Asia and is looking at 130 workers.

"I was hiring people every day, even now," he said. "This is the best time for me to see the development of human capital."
The growth of the Gulf petrodòlars have Islamic banking career, but the sector is expected to be dominated by the presentation in real estate prices in the Middle East.
Azahara says the bank is the structure of the Fund is to assume that the airport at least $ 100 million U.S.

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