Islamic finance body IILM sells debut $490 million sukuk
“They are expecting more but are just having inquiries at this stage.” Auckland mortgage broker Jeff Royle said the non-bank sector would definitely benefit from the Reserve Bank change. Royle said the change had already resulted in big delays in getting mortgage approvals at the main trading banks while some non-bank lenders were still able to give conditional approval within an hour for online applications. He said that in his experience non-bank lenders were more flexible, with less pressure for borrowers to have no other debt or to have saved the deposit by themselves. “They are a bit more expensive but also a bit more tolerant.” Royle said he was also aware of other lenders interested in entering the New Zealand market.
Market Chatter-Corporate finance press digest
dollars, were issued by the Malaysia-based International Islamic Liquidity Management Corp (IILM). Its debut issue was fully subscribed, the IILM said in a statement on Monday. Islamic finance, which obeys religious principles such as a ban on interest payments, has grown rapidly since the global financial crisis and is now estimated to have well over $1 trillion of assets around the world. But its expansion has been limited by a shortage of highly liquid, investment-grade financial instruments which Islamic banks can trade to manage their short-term funding needs.
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* German bank Hypo Real Estate (HRE) plans to start a bidding process in the next few weeks to sell its public finance specialist unit, Depfa, a person with knowledge of the matter told Reuters on Sunday. * BATS Global Markets Inc, the third-largest U.S. stock exchange, is in advanced talks to merge with smaller rival Direct Edge Holdings LLC, the Wall Street Journal reported on Friday, citing sources familiar with the matter. * Alibaba Group is planning a management structure that would allow its partners to nominate the board and retain control over decision-making after it goes public, the Hong Kong Economic Times (HKET) daily reported on Friday. * Goldman Sachs Group Inc put four senior technology specialists on administrative leave after a trading glitch that led to a flood of erroneous options trades, the Financial Times reported, citing people familiar with the situation.
colleges and universities. I have seen employers think it is OK to abuse good workers simply because they are paying them an hourly wage. And, conversely, we have several employers start their interns unpaid but invest a great deal of time in orientation and training in various aspects of the business, she says. Here are some questions Dorcely-Mohr says students should ask themselves when evaluating an internship opportunity: Was there a person you could contact or an online description you could review to understand the important elements of the business?