Sukuk issuances rose to USD114.7bln in 11M14 (Jan-Nov 2014), a sizeable 8.6% increase from the USD105.6bln volume recorded during 11M13. Sovereign issuances accounted for almost 80% of total issuances. The record for issuances was in 2012 when $137.1 billion was raised, while issuance dropped to $116.9 billion in 2013 and fell further in 2014. »

The Islamic Financial Services Board in its Islamic Financial Services Industry Stability Report 2015, provides some useful data with regards to the latest statistics to the size and growth of the market, an industry which remains in an upward trajectory, evidenced by its assets’ double-digit compound annual growth rate (CAGR) of 17% between 2009 and 2013. »

As the Islamic financial industry continues to experience exponential growth, offshore financial centres (OFCs) are keen to market their value for the development of Sharia compliant financial products. OFCs are working towards establishing comprehensive eco-systems to gain competitive advantages over other jurisdictions for business, promoting the element of low taxes or low costs of doing busine... »

Global Takaful Insights 2014 by EY Highlights Growth and profitability prospects for takaful operators vary significantly by markets and sectors, depending on the market’s economic maturity, industry and regulatory structure. Despite volatility in financial markets, there appears to be growth momentum in three key markets: Saudi Arabia, United Arab Emirates (UAE) and Malaysia. Acquisition of  mark... »

In an interview, Mohieddine Kronfol, CIO for Franklin Templeton Global Sukuk and MENA Fixed Income Strategies highlighted the changing nature of the sukuk market, stating “The Sukuk market continues to be characterized by a lot of innovation and a lot of growth.” »

The use of Sharia compliant loans is making in-roads with the private sector in Saudi Arabia which is favouring such products over sukuk issuances. »

Indonesia, the world’s most populous Muslim nation, is currently taking action, at both the local and international levels, to distinguish the country in the global Islamic finance markets. »

A restructuring of the Chinese economy continues to weigh on import demand and hence commodity prices, with global growth expectations being revised moderately lower during the second half to 3.1%. »

It was a volatile and difficult start to 2016 for equity markets which fell sharply in the first three weeks of January on the back of renewed concerns over the growth outlook in China and the global economy, and further declines in the oil price. »

Large multi-billion dollar Islamic funding deals have been announced by Saudi Electricity Company (SEC), and China-Pakistan Economic Corridor. »