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Prosperitus Capital Partners
Contact person/department: Kamran H. Khan Co-Managing Partner Address:
Berkeley Square House London W1J 6BD
Telephone: +44 207 193 5755 Mobile: +44 7943 866 552
E-mail:
kamran.khan@
prosperituspartners.com
They are the first of their kind to launch a private equity fund. Their ideal drive and focus is centred on Sharia complaint funding and connecting the markets in the west to the markets in the Middle East. They are doing this by translating the message of Islamic Finance. Prospertious business approach is connected to both inno- vation and management of the individual asset classes. They intend to foster operations in the Middle East, North Africa. Porsperitus, also have a parallel conventional platform.
Commander Fund Asset Management Ltd
Contact person/department: Mark Randall Address:
4 Creed Court 5 Ludgate Hill London
Telephone: +44 (0) 20 7246 9940 Fax: +44 (0) 20 7246 9944
E-mail:
mark.randall@commanderfund.co.uk Website:
www.commanderfund.co.uk
Commander fund is primarily a conventional based asset mana- gement and operations corporation. Yet, in recent years they have been working on pioneering the closes thing to a Sharia compliant Hedge fund. They are also promoting the Middle East and develo- ping a strong client base and market presence there.
EC4M 7AA
Capitala
Contact Person. Department : Patricia Assaad Address:
Al Moroor Street PO Box 30398
Email:
patricia.assaad@
capitala.ae Telephone: +971 2 412 1111 Fax: +971 2 412 1222
Description: Capitala are the masterminds behind some of the most beautiful and nubile real estate development in the Middle East. They are focused on striking the balance between community cohesion and good business decision making. There main project Arzanah, is a US$6 billion development on Abu Dhabi island. Located in the Zayed Grand Mosque District
Islamic Finance Glossary D Dalil Daman
Daman Khatar Al-Tariq
Darura
Da’wah Dayn
Deen Debt
Debt Service Reserve
Default Dinar Dunya Duyoon Haalah Duyun Mu’ajjalah Due Diligence Dyan A scientific argument based on reason. Guarantee, security. Taking responsibility. Also see Kafalah.
Guarantee against the travel hazards. An arrangement of mutual assistance in which losses suffered by traders during journeys due to hazards were indemnified from jointly pooled funds.
Necessity, overriding necessity. Adopting a ruling, even one that may contravene a Shari’ah rule, when one is compelled by extreme necessity, usually life or death (Usually used for the “Doctrine of Necessity,” whereby something otherwise prohibited becomes temporarily permissible).
Claim, as in Takaful. Debt. A dayn comes into existence as the result of any contract or credit transaction. It refers to a complete code of life prescribed in Islam.
Usually refers to an amount owed for funds borrowed. The debt may be owed to an organisation’s own reserves, individuals, banks, or other institutions. Generally, the debt is secured by a note, bond, mortgage, or other instrument that states repayment and interest provisions. The note, in turn, may be secured by a lien against property or other assets. Debts in different forms all imply intent to pay back the amount owed by a specific date as set out in the repayment terms.
Term used to refer to cash reserves set aside by a borrower, either by internal policy or lender covenant, to repay debt in the event that cash generated by operations is insufficient.
A failure to discharge a duty. The term is most often used to describe the occurrence of an event that cuts short the rights or remedies of one of the parties to an agreement or legal dispute, for example, the failure of the mortgagor to pay a mortgage installment, or to comply with mortgage covenants.
Currency in the form of gold coins that was used in the past. The term is still used in some Muslim countries, like Iraq. This “world”. Dunya literally means ‘closer’ or ‘lower’. Life in this world temporal world - and its earthly concerns and possessions. Dayn / Debts that have become due or can be called back at any time. Time of payment settled between the creditor and the debtor and the debt is not yet due.
Refers to the task of carefully confirming all critical assumptions and facts presented by a borrower. This includes verifying sources of income, accuracy of financial statements, value of assets that will serve as collateral, the tax status of the borrower and any other material facts presented by the b
Debt. A Dayn comes into existence as a result of any other contract or credit transaction. It is incurred either by way of rent or sale or purchase or in any other way which leaves it as a debt to another. The lender should not impose on the borrower more than what is given on credit.
84 Global Islamic Finance May 2012
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