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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.

Sukuk's new frontier

22.10.2010

While Asia and the Gulf remain the two main hubs for sukuk bonds issuance, international players recovering from the global financial crisis and on the prowl for investment have begun experimenting with the financing tool.
Sukuk's new frontier
Istanbul heads new global hunger for Islamic bond

While Asia and the Gulf remain the two main hubs for sukuk bonds issuance, international players recovering from the global financial crisis and on the prowl for investment have begun experimenting with the financing tool. The most recent entrant to the sukuk market is Turkey, long seen as a prime candidate for the development of Islamic financial products. Its foray into sukuk (a sharia compliant investment tool) was well received, though a sovereign placement could still be a ways off as the Turkish government cautiously adopts Islamic finance legislation.

Sucking up the sukuk

Istanbul-based bank Kuveyt Turk sold $100 million of three-year sukuk in August, the first issuance of an Islamic bond by a Europe-based bank. The sale was oversubscribed 45 percent by investors from the Middle East, Europe and Asia.

"Everyone was expecting a sovereign sukuk from the treasury, but we wanted to pave the way as a bank," Chief Executive Officer Ufuk Uyan said at the launch. Based on this success, Kuveyt Turk is already planning a second placement of $100 million in five-year bonds in 2012.
Secular Turkey has proceeded slowly into the global Islamic finance arena. Its four sharia-compliant banks, including Kuveyt Turk account for just 4 percent of the nation's assets. However, they are growing at more than twice the speed of regular banks in Turkey, expected to total $19.5 billion in funds at the end of 2010.

www.zawya.com

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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.

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