The growing potential in Africa is expected to create more opportunities for Islamic finance, in light of its robust economic prospects and rising consumer base. As Islamic financial industry continued to experience growth, there is a dire need in highly skilled and talented human capital workforce that can drive the future developments and innovations of the industry. »
The use of Sharia compliant loans is making in-roads with the private sector in Saudi Arabia which is favouring such products over sukuk issuances. »
Indonesia, the world’s most populous Muslim nation, is currently taking action, at both the local and international levels, to distinguish the country in the global Islamic finance markets. »
Thousands of Pakistani households are turning to microfinance institutions which provide loans based on Islamic law, or Sharia. The following video courtesy of the Wall Street Journal looks at micro financing solutions in Pakistan. »
Khazanah hits the road to market its dollar sukuk and analysts expect the state investment fund will need to offer premium yields to entice investors. »
Presenting at an Islamic Finance seminar organised by the Manchester Chamber of Commerce in association with the British Muslim Heritage Centre, Maisam Fazal of Al Rayan Bank, a fully fledged UK bank run in accordance with the principles of Sharia provided an overview of common Islamic finance transaction structures as well as outlining the banks growth plans into Europe. »
Current estimates of the size of the global Islamic finance industry range from $1.66 trillion to $2.1 trillion. Recent announcements from Saudi Aramco may be about to give these numbers a supersized boost with a potential valuation and part IPO of up to $10 trillion. »
After opening its first office in Paris, NoorAssur announced it had plans to open around 20 other branches in France in 2016. Launched in 2012, NoorAssur had been offering Shariah-compliant products online. In the UK Gatehouse Bank and Cobalt Underwriting remain busy closing Sharia compliant deals. »
Albaraka Turk has issued a tier 2 Sukuk for the value of USD$250 million. The sukuk has been admitted for listing on the Irish Stock Exchange. The Reg S fixed rate resettable tier 2 sukuk is due 2025 and is backed by the credit of Albaraka Turk as obligor, was issued by Albaraka Sukuk Ltd. »
The Ivory Coast is to become the latest state to issue a Sovereign Sukuk as it today launched its debut five year 150 billion CFA issuance sukuk priced at a profit rate of 5.75%. »
