Blacklist Could Curtail Free Flow of Islamic Financial Funds to UAE and Bahrain The global Islamic finance centre credentials of the UAE and Bahrain took a hit as EU finance ministers added them to a list of “blacklist” tax havens, which could mean they lose access to EU funds and face other sanctions. EU finance ministers have listed 17 countries for failing to meet agreed tax good governance sta... »

Sukuk issuances in October 2015 stood at USD2.6bn, increasing from USD0.5mn registered in the earlier year during the same period. For YTD October 2015 sukuk issuance by value declined 22%y-o-y to USD16.2bn, mainly driven by a sharp decline in sovereign issuances (-21% y-o-y, worthUSD4.8bn) and quasi-sovereign (-82%y-o-y,USD1.0bn). »

Key points of EY Report 2014-2015, Focus on market penetration of Islamic Banks. »

A case being heard at London's High Court will shine a light into the dark corners of Islamic financing gone wrong. »

Chief Economist for Bahrain Economic Development Board Dr Jarmo Kotilaine stated globalisation of the industry is a work in progress. Kotilaine stressed that what the market needs more is a significant number of active jurisdictions to ensure the industry lives up to its principles of risk sharing and asset-based financing. »

What role does Islamic finance play in the economies of states belonging to the Gulf Cooperation? Apparently, quite a substantial one. Research has demonstrated that Islamic finance has had a significant effect on economic growth and development in Bahrain, Qatar, Kuwait, Saudi Arabia, and the United Arab Emirates, the five countries of the GCC. About half of worldwide Islamic finance and assets a... »