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.
 
Dubai, Abu Dhabi ranked Arab world's most expensive cities to live for expats
Source : Arab News  
Date : 2017-06-23
The Middle East's favorite expat destinations Dubai and Abu Dhabi have been ranked as the most expensive cities to live in the Arab world, Mercer's latest Cost of Living Survey...
Saudi stocks set for bumper weekly gain
Source : Saudi Gazette  
Date : 2017-06-23
The Saudi stock market rose more than 1 percent on Thursday, heading for their biggest weekly gain in six years, after the promotion of Prince Muhammad Bin Salman to the...
12% rise in remittances from UAE in first half of Ramadan
Source : Khaleej Times  
Date : 2017-06-23
Xpress Money, a remittance company based in UAE, has recorded a 12 per cent increase in remittances in the first two weeks of Ramadan as compared to the same period...
Investors eye off-plan projects in Dubai
Source : Khaleej Times  
Date : 2017-06-23
A welcome period of low property prices has stoked more interest in Dubai for many investors, who are increasingly expressing an interest in the many off-plan projects across the city....
UAE'S FTS conducts Dhs2.9 trillion transactions
Source : Gulf Today  
Date : 2017-06-23
A total of Dhs2.9 trillion is the value of transactions conducted through the UAE Funds Transfer System (FTS), during the first five months of 2017 against Dhs3 trillion during the...
Etihad, China Southern Airlines announce deal
Source : Gulf Today  
Date : 2017-06-23
Etihad Airways, the national airline of the United Arab Emirates, and China Southern Airlines, Asia’s largest airline, have announced a new codeshare partnership which comes into effect from Thursday, (22nd...
RAKBANK to introduce Samsung Pay solutions for ATMs
Source : Gulf Today  
Date : 2017-06-23
RAKBANK is the first bank in the Middle East to introduce Samsung Pay solutions for its ATMs, in partnership with Samsung Gulf Electronics....
Xpress Money sees 12% rise in remittances in Ramadan
Source : Gulf Today  
Date : 2017-06-23
Xpress Money, one of the world's most dependable money transfer brands has recorded a 12 per cent increase in remittances in the first two weeks of Ramadan as compared to...
DED to support women’s economic empowerment
Source : Gulf Today  
Date : 2017-06-23
The Department of Economic Development (DED) has issued a decision to form an internal committee to empower women in the economy, with the aim of achieving its role to support...
DFM welcomes listing of Orient UNB Takaful
Source : Gulf Today  
Date : 2017-06-23
Dubai Financial Market, DFM, on Thursday welcomed listing of shares of Orient UNB Takaful under the trading symbol OUTFL, which appears on DFM screens, trading system and publications within the...
Kuwait bourse closes down in volatile trade
Source : Arab Times  
Date : 2017-06-23
Kuwait stocks pulled lower on Wednesday as it extended the losses to third consecutive session. The main index dropped 18.37 pts in volatile trade weighed by banks and other blue...
135 Omani firms ready to export food items to Qatar
Source : The Peninsula  
Date : 2017-06-23
Around 135 Omani companies have expressed their readiness to export a wide-range of goods, including food items and building materials, to Qatar, which are expected to enter the local market...
Qatari businessmen hail positive outcomes of recent visit to Oman
Source : The Peninsula  
Date : 2017-06-23
A number of businessmen and members of the Qatari delegation yesterday praised the positive outcomes of the visit organised by Qatar Chamber of Commerce and Industry (QCCI) to Oman,...
Qatar's GDP grows 2.5% in first quarter this year
Source : The Peninsula  
Date : 2017-06-23
Qatar's real Gross Domestic Product (GDP) at constant prices has witnessed a growth of 2.5 percent in the first quarter (Q1) of 2017 compared to same quarter previous year, said...
Dubai's residential off-plan sales boom to continue
Source : TradeArabia  
Date : 2017-06-23
The boom in Dubai's residential off-plan sales will continue at least until year-end as buyers take advantage of less onerous payment plans and a greater choice of projects, said Propertyfinder...
Iran airliner sign deal to buy 45 Airbus planes
Source : Islamic Republic News Agency  
Date : 2017-06-23
After 18 month of intensive talks and conducting feasibility studies by experts, the European company agreed to sell 45 airbus A320 NEO family series, including A318, A319, A320 and A321...
Global backing for Iran in FATF meeting in Spain
Source : Islamic Republic News Agency  
Date : 2017-06-23
The source, speaking on condition of anonymity, said on Thursday that US President Donald Trump and some of its regional allies tried hard to use the FATF against Iran but...
Emaar unit to operate Jabal Omar's Makkah luxury hotel
Source : Saudi Gazette  
Date : 2017-06-23
Jabal Omar Development Company (JODC), a leading real estate development company in the region, has signed up Emaar Hospitality Group's premium luxury hotel brand Address Hotels + Resorts to manage...
DP World, Masdar sign deal for clean energy
Source : Gulf Today  
Date : 2017-06-23
Global trade enabler DP World and Masdar, Abu Dhabi's renewable energy company, have signed a Memorandum of Understanding (MoU) to explore areas of collaboration on clean energy solutions for DP...
Qatar Vinyl Company integrated into Qapco
Source : The Peninsula  
Date : 2017-06-23
Petroleum (QP), yesterday, announced the successful completion of the integration of Qatar Vinyl Company "QVC" into Qatar Petrochemical Company “Qapco, (which already operates Qatofin) through the integration of all operations...
Total 647 Results in 33 Pages
1 
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Mon Jun 26, 2017| 01-شوال-1438هـ
Syria expands anti-Daesh operations
Riyadh celebrates first Saudi Women's Day
UAE summons Iran's diplomat
Trump turns up the heat on Iran, but no clear game plan yet
Qatar tops world in BMI index for investment attractiveness
Qaeda kills Yemen police, targeted in US raid
Iran targets $8.6bn of refinery deals with Asia firms
UN chief: Syria dialogue must focus on transition for success
US President Trump strongly supports Iraq - envoy
DGCX traded 1.37m contracts valued at $33b in January
Iran rejects 'baseless' warning from US on missile test
GCC consumers spend $9.3 billion on beauty, personal care products
HM King hails parliament's role
Saudi sentenced 7 years in prison for entering Syria, joining Al-Nusra
AD CP, Emir of Qatar discuss ties
  Op-Ed
More>>  
    Reports
NBK Report on oil markets
GCC Banking Sector Quarterly - 2Q16
More>>  
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    GRC Analysis
World Environment Day: Time to Reconnect with Nature in GCC
UAE'S NON-OIL TRADE HITS DHS1.2 TRILLION
The Benefits of NATO-GCC Strategic Ties
    GRC Commentary
The Trump Visit to Saudi Arabia: Time for a Course Correction
Environmental Education Must for GCC Countries
Climate COP 22 in Marrakech Important for the Region
    GRC Press Release
Gulf Research Center press releases to the media
    GRC Publications
Skillfull Survivals
The GCC and the Global Oil Market in 2016
GCC and Regional Issues
    GRC Newsletters/Bulletins

Enter your email to get the Newsletter
Go
GRC Publication
      
Privacy Policy | Contact Us | Terms & Conditions | About Us |
Weather | Qibla Directions | Hijri Date Conversion Tool
Full Page :total time:1  |   12-- 13 Middle Page :0  --   | Right : 12 - 12--en--sess-enreq-en-coming