In just four decades, the Sharia compliant finance industry has grown from a niche banking system to be regarded as one of the fastest growing segments of the global financial industry, with total global financial assets estimated to be around USD2tln. The past five years have been most significant, recording 17.3% Compounded Annual Growth Rate spurred by improved industry infrastructure, a more c... »
Respected UK journalist Peter Osborne dug deep to discover use of a "World Check" Thomson Reuters database being used to blacklist UK Muslims. The World Check database is nothing more than a trawl of public information from sources such as Wikipedia and blogs. »
Gulf based banks dominate global Islamic Bank rankings with Al Rajhi Bank maintaining its top ranking based on assets of over $82 billion, followed by Kuwait Finance House on $56.8 billion, Dubai Islamic Bank on $33.73 billion and Abu Dhabi Islamic Bank with $30.49 billion in assets. »
The financial sector plays a critical role in the socio-economic development of any country. Of importance, Islamic economics was designed as a just and ethical financial system, supporting the efficient allocation of resources both for wealth creation purposes, as well as the betterment of society. Finance based on Islamic principles is expected to further enhance socio-economic well-being in co... »
A busy week in the UK concludes with innovative Helicopter Financing deal and final delivery of Emirates A380 funded by UKEF Sukuk. Both deals mark World firsts within the sector for the UK and bolster it ambitions to become Western hub. »
In an amendment to Tax laws, the South African government is looking to its listed corporates to build off its sovereign Sukuk issuance last year with expanded inclusion of finance instruments based on Islamic principles within the tax regime. »
Jaseem Ahmed, Secretary General of the Islamic Financial Services Board (IFSB) stated the industry is now witnessing the coming together of the global community of savers and investors who are interested in ethical finance, adding such investors are showing an interest in sukuk because of its ethical credentials. »
In an UK government innovation, this week saw delivery of the fourth and final Airbus A380 aircraft to be funded under the world’s first corporate sukuk to be guaranteed by a western government. The aircraft was delivered to Emirates this week at Hamburg Airport with the bond guaranteed by UKEF. »
Demand for talent is set to grow in tandem with a rapidly expanding industry. Efforts to expand and enrich knowledge and practical skills have been encouraging. Overall, demand for talent within the industry is expected to continue rising, while training providers continue to rise to meet the challenges of supporting the unique needs of the industry. »
The necessity of catering to Islamic investors' preference for halal funds, and his firm's diverse range of financial instruments. »
