Taken as whole it is likely Islamic compliant financial assets exceed $2.5 trillion as Sukuk issuances in its core market recorded a 21% year on year increase. »

Mahmoud Mohieldin of the World Bank in a speech at the Islamic Banking and Investment forum in Singapore discussed the role Islamic finance can play in reduction of extreme poverty and sustainable development particularly within OIC countries. »

Fintech’s penetration into Islamic finance is still in its infancy with a relatively small number of participants. However, the potential disruptions to traditional Islamic finance should not be underestimated. The disruptions can swing both ways. »

In a contribution in the International Islamic Financial Market (IIFM) Sukuk Report, 5th Edition, Ibrahim Bitar, Head of Trading, Noor Bank provides an interesting insight into GCC Sukuk market developments starting from 2015 to the present day. »

Malaysia has started marketing its upcoming 1.5 billion dollar sukuk issuance, which would be the second in two years. »

2012 and 2013 were record years for global Sukuk issuances while in 2014 the Sukuk market slowed down to just over USD100 billion issuances. 2015 witnessed a major drop in issuances when only USD60.6 billion Sukuk were issued, a massive 43% fall compared to 2014. »

The growing potential in Africa is expected to create more opportunities for Islamic finance, in light of its robust economic prospects and rising consumer base. As Islamic financial industry continued to experience growth, there is a dire need in highly skilled and talented human capital workforce that can drive the future developments and innovations of the industry. »

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. »