Contents; 12
Report on Sukuk
Global Sukuk Market: Where are we and
where are we heading?
The global Islamic financial sector has witnessed an encouraging growth over the last decade and is currently estimated to be at around US$1trillion. It is predicted to be the world’s fastest-growing finan- cial sector for the coming years with an estimated global potential of US$4trillion.
QWERTYUIIOPDFHJ 32
Wealth management
Islamic Wealth Management Opportunities in North America
In the previous part of this series, we went West and looked at the challenges and opportunities for Islamic wealth manage- ment in the UK. In this part we will be going even further west and examining the emergence of the industry on the North American continent. Is there really scope for an Islamic wealth management sector in the USA and Canada? .
News
7 Islamic Finance Update Investment
18 A Bonding Experience: The
Gulf’s Nascent Sukuk Market Sukuk in the Persian Gulf, or Gulf Cooperation Council, countries-Saudi Arabia; United Arab Emirates (UAE); Oman; Kuwait; Qatar and Bahrain-only really started
receiving worldwide recognition in October of last year.
However, in the past few years, countries that may be classified as emerging economic pow- ers have also started looking into establishing Islamic finance industries. From South Korea to Ireland, Canada to Australia, South Africa to Kuwait, such countries are beginning to see financial ideas, products and structures based on sharia’a principles. This of course means that these jurisdictions are also increasingly opening up to the Islamic investor. What oppor- tunities are there in these emerging markets?
50 New Doors Opening:
Islamic Investment Op- portunities in Emerging Markets
In attempting to meet The internationalisation of Islamic finance in recent years has seen a variety of countries take an unprecedented interest in the industry. Many of these countries are traditional financial centres, such as the UK, Luxembourg and Malaysia.
Sukuk
23 Some core concepts in Sukuk, Part 1
There is a basic dissonance between the tendency to mimic conventional financial practices and products and promoting Islamic finance. The former tendency assumes that conventional financial products and prac- tices respond to genuine social needs.
Islamic banking 28 Estate planning in Islamic fi-
nance: getting the approach right The Islamic wealth management industry is one of the fastest growing sectors in the Middle East and has sparked high interest outside the region, with global fund assets reaching over $50 billion by the end of
2009 (Ernst and Young IFIR 2010). Interview
37 Interview with Baroness Nicholson of Winterbourne
Islamic finance instruments 42 Time value discount theory in
the Islamic Economy The Islamic viewpoint regarding the change of value in money sums over time has been made clear cut. Money sums are located on time span and have different values even if they are equal in quantity; this is due to the fact that cash money is better than deferred and concentrate payments and also preferable to abstract debts.
44 Demystifying Commodity Mura- baha & Reverse Murabaha (Tawar- ruq) – Conceptual Analysis & the
Surrounding Controversy Commodity Murabaha & Reverse Commodity Mura- baha (or Tawarruq) are short tenure transactions com- monly resorted to by market players for liquidity man- agement (i.e. investing excess funds for a reasonable return mostly through Commodity Murabaha or seeking funds to bridge the resource gap at a reasonable cost mostly through Tawarruq) in a secure manner.
Financial Services Authority Guideline
47 The development of Islamic
finance in the UK Most of the growth of Islamic finance in the UK has taken place in the last five years, but existence of Sharia-compliant transactions in the London financial markets goes back to the 1980s….
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