Contents; 12
Takaful
Global Islamic Finance Takaful and Retakaful Review: Insurance At Its Best
36
As the Islamic finance industry continues to expand, its ap- petite for competition with conventional finance understand- ably increases. Islamic finance institutions compete not just with their conventional counterparts, but also with one another to offer customers products and services to meet their financial needs and desires.
Risk Management
Implication of Basel II in Islamic Finance Institutions
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The Islamic financial industry is estimated to be worth over US $2 trillion dollars by 2015, and part of its unprecedented success has undoubtedly been due to sectors such as Takaful Islamic insurance. This includes Retakaful, which is the reinsurance of Takaful business, whereby an insurance company can transfer to another insurer.
News
7 Islamic Finance News Islamic Finance
22 Islamic Finance: Structure-Objective Mismatch and
its Consequences The abolition of interest, and the promotion of growth with equity, were two important goals of the newly conceived system, expressing a long-held vision of improving the condition of Muslim communities across the world. However, the organisational format adopted for the Islamic finance industry was that of the existing commercial banks, whose essence is the provision of short term loans made to trade industry and commerce with interest...
Interview 31 The Big Ideas: Leading Change
in Islamic Finance The need for the Islamic banking and invest- ment industries to innovate original and genuinely sharia’acompatible products is widely acknowledged. Not only is innovation necessary to compete with the conventional finance sector, but it could also help Islamic finance work together with its conventional coun- terpart in order to create a more sustainable, ethical financial system worldwide...
4 Global Islamic Finance February 2011
Basel II, the second of the Basel Accords, is a set of recommendations on banking legislation and regulations issued by the Basel Committee on Banking Supervision.
The Islamic Banking sector holds many opportunities not only for investments but for key lucrative business deals which can pave the way forward for success in your business or financial institu- tion. Islamic Banking inevitably follows the principles set out by the Shariah and all transactions and investments are ensured to be Shariah compliant.
World Islamic Finance Review 42 Exploiting Investment Potential
in the Kingdom of Saudi Arabia Saudi Arabia, ranked as one of the top 20 most attrac- tive destinations for direct foreign investment, has a high potential for investment. Its robust economy, low- cost energy supply and lucrative markets are important contributions towards Saudi Arabia’s emerging status as one of the world’s top ten most financially competi- tive nations. The nation is undergoing an interesting phase of transformation, which is likely to result in its establishment as a globally competitive economy based on knowledge. This transformative phase has lead to the development of significant investment opportuni- ties at the forefront of both conventional and Islamic finance.
Ethical Investment
52 Gulf Sukuk Issuance Bounces Back 61% Following Recessionary
Crisis The value of Islamic ‘bonds’ (sukuk) issued in the Gulf has jumped 61% in the past year having slumped to the lowest level in four years as a result of a number of factors, including the global financial crisis, according to research by Trowers & Hamlins, the international law firm. $7bn of sukuk was issued in the Gulf in 2009/10 (to June 30), compared to $4.3bn the previous year. At the same time issuance of conventional bonds surged to record levels. The value of conventional bonds issued in the Gulf hit $15bn in 2009/10 compared to $12.9bn the year before, an increase of 16.3%.
Case Study
56 Exploring the Optimal Method of Penetration Into the Saudi
Banking Sector This research paper highlights the potential which lies within the opportunities offered by the under-developed Saudi Islamic investment banking sector. The concept of boutique Islamic “Investment” banking is relatively new in the GCC region. Saudi Arabia, renowned of its retail-driven industry, is not an exception and here lies the growth opportunity for the other universal banks who are keen to penetrate the Islamic “Investment” niche market.
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Islamic Finance Instruments Is Bay’ al-Inah shariah compliant?
Leadership
60 Managing Islamic Finance Institution: Setting Yourself Ahead of the Competition
In this edition of the Islamic Banking series Global Islamic Finance Magazine will take you through a definitive guide to spearheading your competition and successfully implementing a lucrative business model which will guarantee you success in the Islamic financial world. As the Islamic financial industry is becoming increasingly competitive it is important to evaluate potential competitors in your chosen field be it Sukuk, Takaful or any other Islamic commodity which you choose to invest your funds in or open up Islamic windows and subsidiaries...
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