The Hong Kong government has been encouraging more finance activity of Islamic instruments in the city with sukuk issuance. Still, there’s little activity seen in sharia-compliant offerings. »

Global gross takaful contributions are estimated to have amounted to USD26bln as at end-2014. Saudi Arabia and Malaysia are the largest takaful markets by gross contributions. Saudi Arabia generated an estimated USD7.2bln in gross takaful contributions in 2014, while Malaysia gathered about USD2.7bln. »

This standard covers Definition of the sukuk, Types, Parameters and listing requirements. »

This standard covers rules pertaining to ownership and trading of shares of companies. This includes purpose and activities of the company and their compliance with Shari’a, accidental lending and borrowing, the assets components, the unlawful income, and the method of calculating the percentages used in the standard, treatment of cases where Shari’a has been beached, acquiring shares non-fulfi... »

Kuwait Finance 5.8% profit rate seems high when compared to recent HSBC Amanah MYR sukuk which was priced at 4.24%. »

The Islamic insurance industry has developed remarkably over the last four years. Indeed, the number of Islamic insurance companies grew by nearly 73% between 2008 and 2010 (i.e. from 113 to 195), with these being based in more than 30 countries. Their number is expected to increase further in the near future, as the industry’s growth gathers momentum. »

The reports provides a summary of the main events in the market in 2014 covering Islamic Banking, Islamic Asset Management, Sukuk and Takaful. »

Beyond the headline growth numbers, the industry has experienced transformative changes, which supports the overarching goal of Islamic finance as a more inclusive and equitable financial system. »

The Islamic banking sector is now systemically important in a dozen countries and growing in many other countries. The growing complexity of products can make it difficult for consumers and investors to discern risks while the broadening of issuers exposes investors to differing counterparty risks. »

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. »