Ambrose, Author at's Posts

Saudi Arabia Crackdown on Corruption Impacts Defaulted Sukuk

Saudi Arabia Crackdown on Corruption Impacts Defaulted Sukuk

Sukuk Default – Saad Group Head Arrested in Saudi Arabia Maan Al Sanea was arrested by Saudi authorities in October on charges of evading justice and owing large sums of money to creditors. He is also accused in the English courts of a $650m (£495m) fraud that has triggered a battle between hedge funds and the French bank BNP Paribas. The Telegraph reported Mr Maan’s $22bn Saad Group, collap... »

Islamic facility agreement signed by ICD and Mizuho Bank

Islamic facility agreement signed by ICD and Mizuho Bank

ICD and Mizuho Bank sign Islamic financing agreement The Islamic Corporation for the Development of the Private Sector (ICD) and Mizuho Bank have formalized a signing of Islamic financing agreement. The Islamic financing term sheet agreement was signed by Mr.Khaled Al Aboodi, the Chief Executive Officer and General Manager of ICD, and Mr. Shojiro Mizoguchi, Chief Executive Officer of Mizuho Bank (... »

Why Canada is Welcoming Islamic Finance with Open Arms

Why Canada is Welcoming Islamic Finance with Open Arms

Canada has helped to establish a template for other sovereigns in embracing alternative and socially conscious forms of investing according to a Fitch Ratings report by Bashar Al Natoor, Global Head of Islamic Finance at Fitch. The overarching reason is that Canada can deepen its pool of investors; the belief being that the more people have a personal stake in an investment, the more public accept... »

Islamic Finance for Development

Islamic Finance for Development

Islamic Finance for Development Victoria Kwakwa – World Bank Vice President for the East Asia and Pacific. Income growth is not the sole aim of economic development. To many, an equally important, albeit less quantifiable, outcome is a sense of progress for the entire community, and a confidence that prosperity is shared equitably – and sustainably – across society for the long term. Inclusi... »

IMF: Evidence from Islamic Banks for Basel Compliance and Financial Stability

IMF: Evidence from Islamic Banks for Basel Compliance and Financial Stability

The IMF examines whether compliance with Basel Core Principles (BCPs) for effective banking supervision affects bank stability and risk taking by comparing conventional and Islamic banks. Basel Compliance and Financial Stability: Evidence from Islamic Banks While previous studies that use the BCPs index report no evidence of a significant association with bank stability and efficiency, this study ... »

A look at the evolution of Islamic Finance in the UK

A look at the evolution of Islamic Finance in the UK

Bashar Al Natoor, Global Head of Islamic Finance at Fitch Rating looks at the historical evolution of Islamic Finance in the UK. Mr Al Natoor highlights the central role the UK plays in the global Islamic finance industry covering three areas. Firstly the role of English law in underpinning global sukuk contracts and Islamic financial contracts, secondly the London Stock Exchange being a global hu... »

Islamic Finance Must Seize on New Trends for Next Phase of Growth

Islamic Finance Must Seize on New Trends for Next Phase of Growth

Days of Double Digit Growth Are Gone In a speech at the Kuala Lumpur Islamic Finance Forum (KLIFF), Mr Encik Abdul Rasheed Ghaffour, Deputy Governor of the Central Bank of Malaysia stated the days of double digit annual growth are now behind the industry. The industry must now seize opportunities in new growth areas; reinforce the core strengths of Islamic finance; unlock its potential; and realis... »

Room for Growth in Indonesian Domestic Corporate Sukuk Issuance

Room for Growth in Indonesian Domestic Corporate Sukuk Issuance

Second Largest Sukuk Market Indonesia has ample room for growth, as the second-largest sukuk market in the world in 2016, Fitch Ratings says in a new report on Indonesian domestic corporate sukuk issuance. Indonesia’s domestic corporate sukuk market continues to lag far behind that of Malaysia, the largest sukuk market in the world. In the report, Fitch provides an overview of Indonesian dom... »

Italian SME’s access to Islamic Financing Discussed at IDB Meeting

Italian SME’s access to Islamic Financing Discussed at IDB Meeting

Meeting Discusses Socio Economic Development, Combating Poverty and Illegal Immigration Dr. Bandar Mohammad Hajjar, Chairman of the Islamic Development Bank Group, discussed with Ms. Elisabetta Martini, the Italian Consul-General in Jeddah, at IDB headquarters in Jeddah means of enhancing cooperation between IDBG and Italy in the areas of socioeconomic development, combating poverty, illegal immig... »

Islamic Finance in Africa: Impetus for Growth

Islamic Finance in Africa: Impetus for Growth

Report by Malaysia International Islamic Financial Centre Islamic Finance in Africa: Impetus for Growth Many market development and regulatory efforts have taken place in the African region in recent years as there is a clear set of potentials for Islamic finance to play a role in African countries to diversify their sources of funding. As the world’s largest untapped growth market for Islamic eco... »

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