Thousands of Pakistani households are turning to microfinance institutions which provide loans based on Islamic law, or Sharia. The following video courtesy of the Wall Street Journal looks at micro financing solutions in Pakistan. »
Malaysia continues to lead in the innovation of Islamic financial products with the recent launch of an Investment Account Platform (IAP) which is envisaged to become a cross border multi-currency channel linking into regional and global economies. »
The global Islamic fund and wealth management sector continued to experience growth due to the increasing affluence of investors who wish to invest surplus funds in a Shariah-compliant. »
Socio-economic justice which is one of the main features present in the Islamic financial system is critical in achieving financial inclusion. Financial inclusion helps to address slow investment growth, weak productivity and income inequality, exemplified by the present-day modest economic growth. »
Khazanah hits the road to market its dollar sukuk and analysts expect the state investment fund will need to offer premium yields to entice investors. »
The Islamic finance industry’s geographical presence has grown beyond its traditional markets in the Middle East and South East Asia to include new players from diverse regions such as Africa, East Asia and the Americas. Given the bright prospects for the industry in these markets, it is likely that Islamic finance will continue to expand there. »
In 3Q 2015, total global Islamic assets under management (AuM) stood at USD60.2 billion. The sector is conservatively projected to grow by 5.05% per annum for the next five years to reach USD77 billion in value by 2019. This is substantiated by a number of facts, such as the average growth rate of Islamic funds at 9.55% per annum over the past five years. »
Current estimates of the size of the global Islamic finance industry range from $1.66 trillion to $2.1 trillion. Recent announcements from Saudi Aramco may be about to give these numbers a supersized boost with a potential valuation and part IPO of up to $10 trillion. »
An overview of AAOFI Shari’a Standard Number One , Trading in Currencies is presented. »
An overview of AAOFI Shari’a Standard Number Two, Debit Card, Charge Card and Credit Card is presented. »
