Dubai Silicon Oasis Authority and Thomson Reuters Reveal Key Findings of Digital Islamic Economy Report 2015

•Muslim consumers contributed US$107 billion to global digital economy of nearly US$2 trillion, and their spending will grow faster than the rest of the digital economy by 2020 •Results released to support Global Islamic Economy Summit 2015 focusing on Digital Islamic Consumer Services DUBAI, UAE, September 2015 – Dubai Silicon Oasis Authority ( DSOA ) […]

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Saudi bank ANB set to sell 2 bln riyal capital-boosting sukuk

Arab National Bank ( ANB ) is close to completing a 2 billion riyal ($533.3 million) capital-boosting sukuk issue, sources familiar with the matter told Reuters on Tuesday. Order books have closed for the transaction, which will enhance the Tier 2, or supplementary, capital of Saudi Arabia’s seventh-largest lender by assets, according to two of […]

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Responsible Finance Institute highlights universal value proposition of Islamic finance for leading role in the broader responsible finance industry

Responsible finance has grown across the developed markets but its growth in emerging markets where Islamic finance is concentrated has lagged Islamic finance can benefit from cooperation with other areas of responsible finance through greater integration of environmental, social and governance (ESG) into Islamic financing activities recognising their close fit with the principles of Shari’ah […]

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Islamic Finance Assets expected to reach $3.24 trillion by 2020

GCC and Southeast Asia dominate Shariah-compliant financial institutions Key Islamic Finance projections and market development to be featured in GIES 2015 Strategies for global relevance and inclusion to be discussed by market leaders In 2014, Islamic Finance assets stood at $1.8 trillion, 74% percent of which fall under Islamic banking CEOs of ADIB, Emirates Islamic […]

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Australia’s NAB seals maiden Islamic financing deal

Aug 27 National Australia Bank Ltd has closed its first onshore Islamic financing deal, a A$19.9 million ($14.2 million) arrangement to fund a real estate purchase by Sydney-based asset manager Crescent Wealth. The funding platform designed by NAB, the country’s No.4 lender by market value, could help open Australia to Islamic investors from the Gulf […]

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SUKUK PIPELINE – Issue plans around the world

The Thomson Reuters Global Sukuk Index is at 117.97246 points, down from 118.20147 at the end of last month but up from 115.79726 at the end of last year. The Thomson Reuters Investment Grade Sukuk Index is at 116.67852 against 116.92144 at end-July and 113.69014 at end-2014. AXIATA – Axiata Group, Malaysia’s biggest mobile telephone […]

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Gulf-based Islamic banks face prospect of lower net income growth

After delivering strong results in 2014, Islamic banks in the Gulf face a gradually weakening operating outlook in 2015-2016, largely due to declining oil revenues, says a report published today by Standard & Poor’s Ratings Services. But as the report, titled Gulf-Based Islamic Banks Grapple With Weakening Regional Economies, also points out, Standard & Poor’s believes […]

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State of the Global Islamic Economy’ Report and Indicator 2015-2016 highlight growth milestones

Projections timed ahead of Global Islamic Economy Summit 2015 in October Global Islamic Economy Indicator quantifies current outlook across seven key sectors Dubai Islamic Economy Development Centre(DIEDC) in partnership with Thomson Reuters , the world’s leading provider of intelligent information for businesses and professionals, and in collaboration with DinarStandard, the growth strategy research and advisory […]

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Tunisian firms prepare to issue Islamic bonds

Tunisian firms are preparing to issue Islamic bonds as the government finalises rules covering the sector, creating a new funding option for companies in an economy buffeted by labour unrest and militant attacks. Islamic finance – which bars interest payments in accordance with Islamic, or sharia, law – accounts for just 2.5 percent of Tunisia’s […]

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Islamic Finance Reaches New Level of Shari’ah Governance in U.S.

Azzad Asset Management becomes the 1st American investment firm to complete external Shari’ah audit. (Falls Church, Virginia, 4th August 2015) — Azzad Asset Management today announced the successful completion of an independent, external Shari’ah audit and verification of its policies and procedures. Azzad is the first investment boutique in the United States to obtain such verification. Conducted […]

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