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.
 
Albania eyes more developed relations with Kuwait - FM
Source : Kuwait News Agency  
Date : 2014-10-31
Albanian Foreign Minister Ditmir Bushati said that his country seeks to ameliorate its political, economic and investment relations with Kuwait....
S. Korean Pres. calls for more economic ties with Saudi Arabia
Source : Kuwait News Agency  
Date : 2014-10-31
South Korean President Park Geun-hye on Friday called for expanding economic ties with Saudi Arabia, saying the two countries should seek exchanges in new areas such as renewable energy, the...
Bid to sabotage heavy water tanks foiled: Iran
Source : The Peninsula  
Date : 2014-10-31
Iran has foiled an attempt to sabotage tanks used for transporting heavy water, which is needed to run some nuclear reactors, and blames a "foreign country" for the incident, a...
Make in Oman, Sunaidy tells Indian companies
Source : Oman Daily Observer  
Date : 2014-10-31
Commerce and Industry Minister Dr Ali bin Masoud al Sunaidy yesterday raised Make-in-Oman pitch in India as he urged New Delhi to upgrade its ties with the Sultanate to the...
Agro-bazaar courts UAE with Malaysian edibles
Source : Gulf Today  
Date : 2014-10-31
Malaysian Prime Minister Najib Razak encouraged his country people across the UAE to support an agriculture/agro-based industry initiative of Kuala Lumpur which is coming to the Gulf that ensures their...
Omani businessmen discuss investment opportunities
Source : Oman Daily Observer  
Date : 2014-10-31
The Omani businessmen participating in the promotional meeting for investment opportunities in the Sultanate held a meeting with representatives of Indian companies at the Confederation of Indian Industry (CII)....
Abu Dhabi Science Festival coming to Sharjah
Source : Khaleej Times  
Date : 2014-10-31
Al Majaz Waterfront in Sharjah will host the award-winning festival providing even more students, teachers and families from across the UAE with an inspirational and hands-on experience of the amazing...
Energy efficient appliances and insulated houses can save power
Source : Arab News  
Date : 2014-10-31
Uninsulated buildings, cars and industrial activity consume 90 percent of the energy produced in Saudi Arabia, an expert from the Saudi Energy Efficiency Center (SEEC) said recently....
Conference encourages media voluntarism
Source : Arab News  
Date : 2014-10-31
A media volunteer group held its second media volunteers conference on Wednesday night at the Dar Al-Uloom University's auditorium in the Saudi capital....
Ooredoo promotes women empowerment in Myanmar
Source : The Peninsula  
Date : 2014-10-31
Ooredoo recently hosted Myanmar’s first-ever Connected Women conference in Yangon in collaboration with global mobile operator association, the GSMA. The experts explored how Myanmar’s technological revolution could be leveraged to...
KPC announces November Propane, Butane gas prices
Source : Kuwait News Agency  
Date : 2014-10-31
Kuwait Petroleum Corporation (KPC) announced in a press statement on Thursday its November prices for Propane and Butane gas....
SMEs prove to be a dominant force in UAE
Source : Gulf Today  
Date : 2014-10-31
High growth SMEs proved to be a dominant force in the recently concluded 2014 Gulf Capital SME Awards, with five out of the nine winners growing by at least 100...
Etihad to boost India network
Source : Khaleej Times  
Date : 2014-10-31
Etihad Airways, the national airline of the UAE, has announced that Mumbai and New Delhi will become its first destinations in India to be served with triple-daily flights, strengthening its...
GCC wealth growth rises 4.75% to $ 17.19t, still outpacing world
Source : Khaleej Times  
Date : 2014-10-31
Wealth growth in the GCC has outpaced the global trend since 2000 as the aggregate wealth per adult in the region has grown by 236 per cent against 125 per...
Startup scheme aiming to help graduates in ICT
Source : Gulf Daily News  
Date : 2014-10-31
Preparations are underway for a two-month entrepreneur programme that aims to provide a platform for university graduates to turn their projects into real business....
Iranian companies ready for export of chicken meat to Russia
Source : Islamic Republic News Agency  
Date : 2014-10-31
Head of Iran Veterinary Organization Mehdi Khalaj here on Wednesday said that authorized Iranian chicken meat exporter companies will be introduced to Russia soon....
Official calls for change in Korean strategy from trade to investment
Source : Islamic Republic News Agency  
Date : 2014-10-31
Deputy Minister of Economic Affairs and Finance Mohammad Khazaei here on Wednesday called for change in strategy of South Korean companies from merely being involved in trade activities to making investment...
Iran-Qatar gas production gap in South Pars to be filled in
Source : Islamic Republic News Agency  
Date : 2014-10-31
Managing Director of Pars Oil and Gas Company Ali Akbar Shabanpour said currently Qatar is exploiting about 23 billion and Iran about 11 billion cubic feet of gas from South...
NBB's net profit surges 5.2pc to $112.1 million
Source : Gulf Daily News  
Date : 2014-10-31
NBB's net profit rose 5.2 per cent to BD42.16 million ($112.13m) for the nine months ended September 30, compared with BD40.09m for the corresponding period of the previous year....
Investcorp-Mumtalakat acquire software firm
Source : Gulf Daily News  
Date : 2014-10-31
Investcorp, a global provider and manager of alternative investment products, and Mumtalakat yesterday announced that they have acquired PRO Unlimited, a leading provider of software and services that enable large...
Total 1715 Results in 86 Pages
1 
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Sat Nov 1, 2014| 08-محرم-1436هـ
Iran wants sanctions lifted as part of nuclear deal
Saudi investors keen to promote UK trade ties
Hezbollah's claim Saudi Arabia backs terror groups rubbished
UAE textile exports up 7.75% at $ 1.6 billion
UN envoy proposes zones to 'freeze' Syria fighting
QIF: Qatar economy's long-term prospects 'remain compelling'
Kuwait prioritizes protection of human rights - Envoy
EU, GCC to strengthen civil aviation cooperation
Palestinian leader, Arab League hail Swedish recognition of Palestine
Funds bullish on Gulf markets despite oil slide
Bahrain elections on November 22
Profits of petchem sector up 12% to SR28bn in 9 months
ISIS massacred 220 tribesmen in Iraq
GCC lighting sector to hit $ 3.7 billion
Kuwait welcomes Sweden's recognition of Palestinian statehood
Qatar banks' asset base sees QR78bn gain in 9 months: KPMG
    Newspaper Editorials
Cracking down on India's tax cheats
UAE business model a shining example
More>>  
    Opinions
The solution is banning Islamist parties
Iran's human rights record is spiraling downwards
More>>  
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    Reports
Justice in Transition in Yemen
The United Arab Emirates (UAE): Issues for US Policy
More>>  
    Bank Reports
GCC Markets Performance – May 2014
Saudi Arabia: Baseline Macroeconomic Forecast 2014-16
More>>  
    GRC Analysis
Saudi Arabia and the ASEAN Periphery: Cambodia, Myanmar, and Brunei
NATO and the Future of Gulf Security.
Saudi-Vietnam Relations
    GRC Commentary
Price of not heeding Kingdom's advice
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
GCC-Asia Ties and Collective Security
Perpetuating the Rentier State: Patrimonialism in a Globalized World
Labor Market Integration in the GCC Countries
    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  |   22-- 22 Middle Page :0  --   | Right : 22 - 22--en--sess-enreq-en-coming