Home Page - Gulf in the Media
HomePoliticsEconomy                               Set Gulfinthemedia.com as home page
Economy
 Print  Send This Page
Save Listen to this Article
Islamic financial market fast expanding   

The Peninsula - 22 February, 2012

Despite a challenging market environment, Islamic finance made progress in 2011, supported by vigorous underlying trends. The industry saw growth in terms of volume, geographic reach and quality increase due to strong demographic growth and rise in the size of Islamic financial market, Bank Sarasin’s 2012 Islamic Wealth Management Report said.

In 2011, the sukuk market recovered from its 2008 shock, when many investors withdrew funds to invest in the developed world. A huge rise in yields rewarded the investor who was loyal to this market. The major achievement was that Muslim investors now have halal alternatives to conventional bonds. About $ 80bn of new sukuk issuance in 2011 marked substantial progress, resulting in a global sukuk market of $ 180bn, the Bank’s third report on the Wealth Management released here yesterday said.

With a positive 2012 outlook, the document said investors will have more opportunities than ever before. Depending on the global economy, the sukuk market is forecast to grow by 10 percent or more. This forecast is supported by sovereign issuers such as Indonesia, Saudi Arabia and even South Africa announcing that they are coming to the market.

“Although events in Europe are creating a challenging environment, the robust sukuk market bought issues to the table. In November alone, the volume was about $ 4bn; quite an achievement for a niche market. Market sentiment changed in December due to the large number of issuers in November and rumours that Dubai government related entities might reschedule their debts”.

The report claimed converting a business to Islamic business can increase the value of a company by 18-25 percent due to the scarcity of genuine Islamic investments. It’s market potential is massive, with global Muslim population expected to increase by 26 percent to 2030, to 2.2 billion, rivaling China and India in terms of market size. Muslims currently have a 7.7 percent share of global GDP which is expected to grow to 8.7 percent by end of 2016.

The Islamic financial market segments in India and China alone are larger than some countries’ populations, estimated at 140 million and 40 million respectively. Demographics are also compelling, with 43 percent of Muslims under the age of 25. In terms of services, the assets of Islamic banks and financial institutions worldwide are predicted to reach $ 1 trillion next year and $ 1.8 trillion by 2016.

On the Islamic equities’ performance in 2011, the report said while most Islamic indexes fell in 2011 many outperformed conventional indexes because of Islamic criteria screens out most financial stocks. For instance, the Dow Jones Islamic Market Pakistan Index, while down 1.06 percent, beat the conventional Dow Jones Pakistan Index by more than 16 percent. The report said options are limited by Sharia considerations, with futures not allowed and Muslim investors continuing to disdain hedge funds despite approval by many scholars.
 
DC geared up to cope with surge of pilgrims
Source : Gulf Today  
Date : 2014-07-24
Dubai Customs has completed its preparations to cope with the surge of UAE nationals and residents who return after performing Umrah pilgrimage during the last ten days of the Holy...
Duqm Airport begins operations
Source : Oman Tribune  
Date : 2014-07-24
The Special Economic Zone Authority in Duqm (Sezad) marked the early opening of Duqm Airport in the Governorate of Al Wusta under the auspices of HE Dr Ahmed Bin Mohammed...
Entertainment square inaugurated
Source : Oman Daily Observer  
Date : 2014-07-24
Al Saadah (happiness) entertainment venue is one of the new projects further developed in 2014. The venue is designed to hold new and special events that are different from the...
Pakistan offers new proposals on construction of IP gas pipeline
Source : Tehran Times  
Date : 2014-07-24
The Pakistani government has presented a new proposal to the Iranian Oil Ministry for the settlement of a dispute over the implementation of Iran-Pakistan (IP) gas pipeline project, Iranian Deputy...
23 pc growth in Nawras H1 net
Source : Oman Daily Observer  
Date : 2014-07-24
Omani Qatari Telecommunications Company SAOG (Nawras) recorded a 23 per cent jump in net profit for the first half of 2014. Earnings climbed to RO 18.7 million this year compared...
U.S. seeking to limit Iran's oil sales during nuclear talks: report
Source : Tehran Times  
Date : 2014-07-24
U.S. officials are optimistic they will be able to limit Iran's oil sales as talks over Tehran's nuclear program continue for another four months, the Argus media organization quoted a...
Dubai top destination for global events, exhibitions
Source : Saudi Gazette  
Date : 2014-07-24
As the global financial crisis continues to grip the world’s most advanced economies, the UAE holds prime position - among a handful of nations, the Middle East giant stands well...
Alba: registration open for ARABAL 2014
Source : Bahrain News Agency  
Date : 2014-07-24
Aluminium Bahrain B.S.C. (Alba), a leading aluminium producer in the world, on Sunday (July 20) announced that the registration is open for the 18th International Arab Aluminium (ARABAL) Conference through...
Non-energy sector to drive real GDP growth to 7% in 2015
Source : Gulf Times  
Date : 2014-07-24
Driven by an expansion in the non-hydrocarbon sector, Qatar's real GDP growth may scale up to 7% in 2015 from 6.4% estimated this year, National Bank of Kuwait (NBK) has...
Japan to count Saudi, UAE for crude storage
Source : The Peninsula  
Date : 2014-07-24
Japan will start treating as 'quasi-strategic reserves' some of the crude stored by Saudi Arabia and the United Arab Emirates in the Asian nation, as a way to help...
QTA lines up Qatar Summer Festival events
Source : The Peninsula  
Date : 2014-07-24
Water fountain shows, an Entertainment City and an inflatable Aqua Park are some of the exciting activities at the Qatar Summer Festival to be hosted by Qatar Tourism Authority (QTA)...
Qapco sponsors workshops to develop skills, creativity
Source : The Peninsula  
Date : 2014-07-24
Qatar Petrochemical Company (Qapco) Q.S.C. has signed a memorandum of understanding (MoU) with Cultural Creativity Centre to sponsor activities and workshops for residents....
Flydubai to start Mumbai flights in October
Source : Khaleej Times  
Date : 2014-07-24
Dubai-based flydubai on Wednesday announced the launch of flights to Mumbai, bringing the total number of destinations served by the carrier in India to seven, with 25 flights a week....
Mashreq bank profit surges 40%
Source : Khaleej Times  
Date : 2014-07-24
Mashreq bank announced on Wednesday a 40 per cent increase to Dh1.16 billion in net profit for the first half of 2014 as compared to Dh828 million in the same...
Marka to list on DFM in September
Source : Khaleej Times  
Date : 2014-07-24
Marka, a public joint stock company with a capital of Dh500 million, on Wednesday announced plan to list its shares on the Dubai Financial Market in the second week of...
Al Maya opens supermarket in Al Reem Island
Source : Khaleej Times  
Date : 2014-07-24
Al Maya Group has extended its reach in Abu Dhabi by opening its fourth supermarket in the country’s capital and first on Al Reem Island, the company said....
Fees and commission boost FH’s H1 earnings
Source : Khaleej Times  
Date : 2014-07-24
Finance House has posted a robust consolidated net-profit of Dh61.2 million for the six months ended 30 June 2014, marking an increase of 8.3 per cent year-on-year, as fee and...
Deyaar Q2 net profit more than doubles
Source : Khaleej Times  
Date : 2014-07-24
Dubai-based property developer Deyaar said on Wednesday its second-quarter net profit more than doubled, buoyed by the launch of its hotel apartment project....
Emirates Reit H1 net profits surges 194%
Source : Khaleej Times  
Date : 2014-07-24
Emirates Reit (CEIC) Limited on Wednesday announced that its net profit jumped by 194 per cent to $34.15 million for January to June period compared to $11.61 million for the...
NBQ posts Dh186.32m profit in H1
Source : Khaleej Times  
Date : 2014-07-24
National Bank of Umm Al-Qaiwain, or NBQ, on Wednesday said its 2014 first-half net profit rose to Dh186.32 million from Dh184.66 million in the corresponding period last year....
Total 1683 Results in 85 Pages
1 
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Thu Jul 24, 2014| 26-رمضان-1435هـ
UN chief in Saudi Arabia to bolster regional peace
Massive housing project launched in Madinah
Nuclear talks to resume in September: Iran
OPEC exports more petroleum products to Asia-Pacific in 2013
Hadi urges unity in visit to restive north
Real estate deals in Dubai hit Dh113 billion
Iraqi MPs stall presidential vote
'Top leadership to decide fate of Pakistan-Qatar LNG deal'
UAE joins Interpol's team on identifying MH17 victims
Islamic Bank of Britain offers UK real estate financing for GCC clients
Be honest, Syria urges new UN envoy
Iraq south oil exports climb to near-record
Hamas leader calls for humanitarian truce in Gaza
Deal to provide 80MW solar energy for rail network
Bahraini govt denied opposition claims
PIF to set up new companies
    Newspaper Editorials
China taps the Latin world
Widodo must manage high expectations
More>>  
    Opinions
How ISIS Evades the CIA
Unfair stereotyping of Saudi women
More>>  
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    Reports
Iraq Crisis and U.S. Policy
Iraq's Jihadi Jack-in-the-Box
More>>  
    Bank Reports
GCC Markets Performance – May 2014
Saudi Arabia: Baseline Macroeconomic Forecast 2014-16
More>>  
    GRC Analysis
Saudi-Vietnam Relations
Saudi-Philippines Relations
Enhancing Saudi-Japan Relations
    GRC Commentary
On Relations between Rulers and Citizens: The Need for a New Social/Political Contract in the GCC States
Key Issue Facing the Saudi Ruling House.
    GRC Book Review
Beyond Regionalism? Regional Cooperation, Regionalism and Regionalization in the Middle East
India, GCC and the Global Energy Regime: Exploring Interdependence and Outlook for Collaboration.
    GRC Press Release
Gulf Research Center press releases to the media
    GRC Publications
The Middle East and North Africa: Change and Upheaval 2014
The Legal Framework of the Sponsorship Systems of Qatar, Saudi Arabia and Kuwait: A Comparative Examination
In Search of Stability: Saudi Arabia and the Arab Spring
    GRC Newsletters/Bulletins

Enter your email to get the Newsletter
Go
      
Privacy Policy | Contact Us | Terms & Conditions | About Us |
Weather | Qibla Directions | Hijri Date Conversion Tool
Full Page :total time:0  |   53-- 53 Middle Page :0  --   | Right : 53 - 53--en--sess-enreq-en-coming