Homepage | About us | Advertise | Partners | Feedback Contacts | Русская версия Русский
Islamic-Finance.ru - Information and Analytics on Islamic Business and Finance in Russia Islamic-Finance.ru - Information and Analytics on Islamic Business and Finance in Russia Islamic-Finance.ru - Information and Analytics on Islamic Business and Finance in Russia

Latest News

07.02.2017

GCC VAT a test for Islamic Finance- Fitch


30.01.2017

Goldmoney adds Shariah-compliant methods to boost investment from Islamic markets


31.03.2016

Path Solutions joins CIBAFI, the world renown General Council for Islamic Banks and Financial Institutions


28.03.2016

"Kazakhstan Islamic Finance 2016: a new frontier for Islamic finance" country report


19.02.2016

Azerbaijan looks to new Islamic bank as sector rules progress


15.01.2016

Linar Yakupov received an award for his contribution to the development of Islamic finance industry in Russia


14.12.2015

The 2nd International winter school of Islamic law and economics has started in Kazan


09.12.2015

Russian financial experts are exploring options to launch Islamic Banking


IBFD Fund

Recent Comments

22.06.2016

Islamic banking will be most relevant to SME sector: Zafar Sareshwala

Interview with director and head of Islamic Corporation for Development's (ICD) India operations.

25.11.2015

Islamic Develop Bank calls for new Islamic microfinance structures

As the Shariah-compliant Islamic finance sector booms in the GCC region, the President of the Islamic Development Bank (IDB) Group, Dr. Ahmad Mohamed Ali, asked experts in the field to develop new Islamic microfinance structures.

14.09.2015

Dubai Silicon Oasis Authority and Thomson Reuters Reveal Key Findings of Digital Islamic Economy Report 2015

Dubai Silicon Oasis Authority (DSOA) and Thomson Reuters, with support from the Dubai Islamic Economy Development Centre (DIEDC) released the 'Digital Islamic Economy Report' for 2015, in collaboration with DinarStandard.

Asia pips Gulf over sukuk sales

01.09.2010

The centre of power in Islamic debt issuance is shifting back to South East Asia after the Gulf enjoyed a short rise to prominence before the global financial crisis.
Asia pips Gulf over sukuk sales
The centre of power in Islamic debt issuance is shifting back to South East Asia after the Gulf enjoyed a short rise to prominence before the global financial crisis.

The value of Islamic bonds, or sukuk, raised in the Gulf so far this year has fallen by 25 per cent to US$2.5 billion (Dh9.18bn) compared with the same period last year, Bloomberg reported. Asian borrowers have raised $5.7bn this year. Khalid Howladar, an Islamic finance expert at Moody’s Investors Service, said while appetite for Gulf sukuk had been driven by global demand, the Asian economies where sukuk are popular – Malaysia and Indonesia – have great domestic interest.
“In the Asian countries like Indonesia and Malaysia, demand is more domestically driven,” Mr Howladar said. “The people there want it, the governments want it, the regulators want it and the whole system works in concert to make it happen. Here I think it’s more capital market driven.”

Saudi Arabia has the potential to harness a domestic surge in demand, he said, given its population of about 25 million and strong culture of investing.
Analysts have long thought that appetite for Gulf sukuk might pick up as Dubai World neared a deal on its $23.5bn debt restructuring. But there is little evidence of that coming closer to reality, even as the government-owned conglomerate sews up a final pact with scores of banks and trade creditors.
“It’s of strategic importance that some of the countries here in the Gulf look towards developing these markets,” Mohammed Dawood, the director of debt capital markets at HSBC in Dubai, said last week. “Especially to compete with Malaysia, the development of the local market will be crucial.”
The Malaysian government has played a crucial role in developing and sustaining the local Islamic finance market there over the past two decades.

The government has built up regulatory structures for Sharia-compliant assets and made the industry’s growth a political priority. As a result, Malaysia is now the world’s largest issuer of sukuk, with $1.25bn of the securities sold in May.

No government in the Gulf has issued Islamic bonds this year.

Source: http://thenational.ae

Latest News

Editor's Column

Follow ISLAMIC-FINANCE on Twitter

Analytics

Malaysia's fast-growing Islamic finance sector benefits not only the Muslim world but also non-Muslim countries, said former Prime Minister Tun Abdullah Ahmad Badawi.

News in RSS format

Islamic-Finance.RU in RSS format
© IBFD Fund, 2009-2017. Developed by Linova-MEDIA. Хостинг от uCoz. Design by WebRT