Daud Baker - The current volume of US dollar sukuk is unlikely to be maintained, »
In a recent interview, respected Islamic finance practitioner Daud Baker who serves on the Shariah Advisory Council at the Malaysian Central Bank, Bank Negara stated the global community is looking to Malaysia to lead in innovation. »
As of end of Q1 2016, Islamic compliant securities (Islamic Capital Market) listed on Bursa Malaysia totalled USD$306.7 billion, the highest for any exchange globally. »
Technological advancement in finance provides better and faster access whilst providing newer financial transaction options. Currently, through internet and mobile banking, customers are able to execute financial and non-financial transactions from any location. As Islamic finance progresses, technology is becoming a key enabler for future business. »
No details as to whether the loans will be Sharia compliant has been released. Three major Japanese lenders form part of the loan syndicate. »
The AAA rated supranational institution, Islamic Development Bank (IsDB) in a recent investors presentation highlighted projects it has co-financed. »
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. »
