Islamic Finance presentation by National Bank of Abu Dhabi in Brazil

Ângela Martins, a specialist in Islamic finance, held a workshop at the Arab-Brazilian Chamber in order to present the principles that govern the Islamic financial market.

Expanding Trade Ties

Brazil is a large emerging market whose GDP nearly trebled from $800 Billion in 2005 to $2.4 Trillion in 2011. With a large population of 202 million, it has a growing trade relationship with OIC countries with Saudi Arabia being its 20th largest trade partner whilst it enjoys large trade surpluses with UAE, Indonesia and Iran.

According to the Brazilian Islamic Federation, there are about 1.5 million Muslims living in Brazil, and it is a big producer of halal meat most of which is exported.

Islamic finance in Brazil

Islamic finance can help in structuring project finance funding as well as providing investment into the country, as it will once more be on centre stage hosting the Olympic Games in 2016, after having hosted the Soccer World Cup in 2014.

Angela Martins was invited by NBAD to start up its presence in Latin America in 2013. Bank ABC Brazil, a subsidiary of the Arab Banking Corporation (ABC) has been operating in Brazil for a number of years.

Data Sources: World Bank, Michigan State University