Islamic Finance

With an extremely favourable climate and ample available land, the GCC countries are well placed to benefit from a global rise in solar power. Rachel Goult, director at S&P Global Ratings, considers the GCC’s efforts to become a large producer of solar energy – and how new capital market involvement and green Islamic finance initiatives could help support the growing industry …

How things are changing in the capitals of Saudi Arabia and Kuwait… MUSHTAK PARKER explains why The tiresome mantra was: “Oh we do not need to borrow money from the markets, because we are flush with liquidity. We pay everything in cash.”hese are extraordinary times in the corridors of power in Riyadh and Kuwait City. Gone is the exuberance, and …

Mushtak Parker looks at a slight slackening of Sukuk activity and raises some question as to what might be behind it given the flurry of issuances that occurred in the first five months of this year A wash with a surfeit of liquidity in the two key regional markets of the Gulf Cooperation Council (GCC) countries and South East Asia, especially …

MUSHTAK PARKER looks at new trends in Islamic Commodity Murabaha and trade receivables supply chains Islamic trade finance has flourished over the last four decades with the Murabaha (cost-plus financing) dominating the direction of financing of Islamic banks and financial institutions to the tune of up to 80 per cent. So much so has this been that the Murabaha became …

As the global Islamic finance industry enters its 40th year in 2015, and continues to assume an accepted niche in the world’s mainstream financial system, its prospects, too, continue to evolve especially regarding its role in contributing to the financial reform agenda, financial stability, GDP growth, intra-Islamic trade and investment, infrastructure development, financial inclusion and wealth management. MUSHTAK PARKER tells …

The World Islamic Banking Conference once again confirmed its position as the premier, largest and most influential annual gathering of international Islamic finance leaders as the 21st annual edition of WIBC 2014 took place at the Gulf Convention Centre in Bahrain. The event was attended by over 1,300 industry leaders in excess of 50 countries representing more than 300 international …

  According to several bankers in the Islamic capital market space, Sukuk activity by international issuers indicates that Islamic finance, especially the Sukuk, is becoming a more mainstream source of funding. MUSHTAK PARKER provides a unique, in-depth, up-to-date analysis of the situation. If the growth trajectory of global Sukuk issuance continues as it has done over the past three years, …

The Islamic Corporation for the Development of the Private Sector is at the forefront of a massive drive to support SMEs. MUSHTAK PARKER reveals who will benefit Due to celebrate its 15th anniversary in 2015, the Islamic Corporation for the Development of the Private Sector (ICD), the private sector funding arm of the Islamic Development Bank (IDB) Group, is a …

Dubai Islamic finance aspiration Emirate aims to become Islamic economy’s global capital MUSHTAK PARKER looks at how Dubai is ramping up its bid to be the hub of Islamic finance The ink had hardly dried on Law No 13 of 2013 – the enabling legislation which was issued last December by Sheikh Mohammad bin Rashid al Maktoum, Vice President and …

There are signs that the Gulf Cooperation Council (GCC) Islamic finance institutions are increasingly looking to the UK in particular and the eurozone to a lesser extent to increase and diversify their trade finance, real estate and other investment portfolios. MUSHTAK PARKER takes up the story London is already one of the world’s largest domiciles for Murabaha business mainly through …

MUSTAK PARKER reports on a plea for ‘a dedicated, qualified, modern, single globally accepted Shariah Committee’ Kuala Lumpur and Dushanbe are not exactly known for their revolutionary zeal. It is in these two capitals, however, that the patriarch of Islamic development finance, Dr Ahmad Mohamed Ali, President of the Islamic Development Bank (IDB) Group, perhaps the most unlikeliest revolutionary in …

MUSHTAK PARKER looks at a bid to help financial institutions manage short-term liquidity and ‘to park their capital reserves requirements on a Shariah-compliant basis’ The imminent issuance of a multi-million lira sovereign domestic Sukuk issuance by Turkey’s Under-Secretariat of the Treasury and the actual issuance of a QR1bn domestic Sukuk in March by the Central Bank of Qatar (CBQ) mark …

The contenders are in place but which one will receive the accolade of being recognised as the ultimate international financial centre? MUSHTAK PARKER looks at the jostling taking place for the crown Mirror, mirror on the wall, who is the fairest of them all?” This is a beauty parade with a difference – it’s taking place in the financial sector. …

The eagerly awaited 2012/13 edition of the World Islamic Banking Competitiveness Report was launched at a specially convened session at the 19th Annual World Islamic Banking Conference in Bahrain. Developed in collaboration with Ernst & Young, the report entitled Growing Beyond: DNA of a Successful Transformation was presented by Ashar Nazim, partner, head of the Islamic Banking Excellence Center, Ernst …

Competition and cost will be just two areas in which the Islamic banking industry can expect future challenges. MUSHTAK PARKER looks at what 2013 has in store Judging by the cornucopia of optimistic press releases, conference speeches and utterings, it is easy to get the impression that the global Islamic banking industry is the new “untouchable” – seemingly untouchable that …

The introduction of Islamic banking into Oman is being greeted with caution by the authorities, who wish to manage the ‘orderly development of the industry’. MUSHTAK PARKER looks at the wisdom behind this decision Central Bank of Oman (CBO) officials are advising against any irrational exuberance about the introduction of Islamic banking in the Sultanate following the promulgation of a …