S.Africa's FNB to appoint new sharia board by year-end
(Reuters) - South Africa's First National Bank (FNB) aims to appoint a new sharia board for its Islamic finance division by the end of 2012, after the previous board dealt a blow to the bank's effort in the sector by resigning a month ago.

Malaysia reforms could aid Islamic banks in rural areas
(Reuters) - Financial reforms in Malaysia could spur the growth of the country's Islamic banks by giving them more opportunity to tap into rural areas, which have a greater proportion of Muslims than urban centres. But concerns about profitability may slow the expansion.

Islamic finance body plans scholar accreditation, ethics code
(Reuters) - A fledgling industry body of Islamic scholars wants to develop a global code of ethics and a professional development programme for scholars, in order to improve standards in the industry, its president told Reuters.

Pakistan takaful rules to attract new players
(Reuters) - Pakistan's regulator has introduced new takaful (Islamic insurance) rules designed to boost competition and lift the sector's market share by allowing the entry of conventional players, prompting a legal challenge from takaful providers.

Islamic trade finance: lost in transaction
(Reuters) - Omar Ibn al-Khattab, ruler of a nascent Islamic empire in the seventh century, once convened a meeting in Medina to admonish his subjects "for avoiding trading and leaving the markets in the hands of the foreign traders".