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.
 
Firm warned in wages row
Source : Gulf Daily News  
Date : 2014-04-23
One of Bahrain's leading construction companies has been warned by the Labour Ministry for failing to pay the salaries of its staff....
Bahrain: tighten your belt...
Source : Gulf Daily News  
Date : 2014-04-23
Bahrain has been ranked fourth according to the Islamic Finance Country Index (IFCI), a composite ranking of more than 40 countries, published in Global Islamic Finance Report (GIFR) 2014....
Bahrain 'open to joint ventures in oil exploration'
Source : Gulf Daily News  
Date : 2014-04-23
Bahrain is open to new joint ventures, especially in the fields of oil and gas exploration and downstream facilities, Finance Minister and Minister in charge of Oil and Gas Affairs...
Session ends early for lack of quorum
Source : Gulf Daily News  
Date : 2014-04-23
Parliment's weekly meeting ended early yesterday because more than half of MPs walked out mid-session....
LuLu holds food festival
Source : Gulf Daily News  
Date : 2014-04-23
Scores of LuLu Hypermarket customers took part in the Tastes of the World Food Festival at its outlets in Hidd, Dana Mall, Ramli and Riffa....
Live sheep shipment arrives
Source : Gulf Daily News  
Date : 2014-04-23
A consignment of 25,000 live sheep arrived in Bahrain after live sheep exports from Australia had been suspended for more than 18 months when a ship was not allowed to...
Alert over spread of virus
Source : Gulf Daily News  
Date : 2014-04-23
Bahrain is powerless to stop a deadly virus that has already killed 81 Saudis from reaching the country, according to a top health official....
New design cheques call by CBB
Source : Gulf Daily News  
Date : 2014-04-23
Central Bank of Bahrain (CBB) has instructed retail banks to expedite the replacement of their customers' old design cheques with new design cheques....
$4m profit for Seef Properties
Source : Gulf Daily News  
Date : 2014-04-23
Seef Properties yesterday reported 5.3 per cent increase in net profit at BD1.56 million ($4.14m) for the first quarter, compared with BD1.48m for the same period last year....
Zain wins best app award
Source : Gulf Daily News  
Date : 2014-04-23
Zain Bahrain has won the "Best Application for Smart Devices Award" at the seventh edition of the e-Government Excellence Award 2014 held at the Ritz-Carlton Bahrain, Hotel and Spa....
Gulf investors to acquire firm
Source : Gulf Daily News  
Date : 2014-04-23
A consortium of Gulf-based investors including Fajr Capital and Arab Petroleum Investment Corporation (APICORP) have agreed on a deal to acquire Dubai-based oilfield services firm National Petroleum Services (NPS), Fajr...
Investcorp to acquire US firm Totes Isotoner
Source : Gulf Daily News  
Date : 2014-04-23
Bahrain-based alternative investment manager Investcorp has entered into a definitive agreement to acquire Totes Isotoner Corporation, it was announced yesterday....
KSA needs land reforms
Source : Arab News  
Date : 2014-04-23
Saudi Arabia is one of the biggest countries in terms of landmass spread over an area of around one million square miles with a population of about 30 million....
Alba sees output increase after technology upgrade
Source : Gulf Daily News  
Date : 2014-04-23
Alba yesterday announced that a technological upgrade will enable it to boost output by an additional 4,000 tonnes a year....
Luxury projects set for property show launch
Source : Gulf Daily News  
Date : 2014-04-23
Two extraordinary real estate developments in Bahrain will be showcased at the upcoming Gulf Property Show, to be held in the kingdom next month....
Firms vow $1.8bn investment at BIIP
Source : Gulf Daily News  
Date : 2014-04-23
As many as 103 companies have committed to investing a total of $1.8 billion at the Bahrain International Investment Park (BIIP) in Salman Industrial City, Industry and Commerce Minister Dr...
VIVA in partnership with BT to develop exchange
Source : Gulf Daily News  
Date : 2014-04-23
British multinational telecoms firm BT yesterday announced it has signed an agreement with VIVA Bahrain to build a Global Internet Protocol Exchange (GIPX) interoperability hub in Bahrain....
Mondelez is planning expansion in Bahrain
Source : Gulf Daily News  
Date : 2014-04-23
Mondel_z International plans to expand its regional manufacturing operations and Bahrain is one of the likely locations for a new plant, the company's vice-president and Middle East area director Vishal...
Dh154 billion for Arabtec projects
Source : Khaleej Times  
Date : 2014-04-23
Arabtec will spend Dh140 billion on building one million low-cost houses in Egypt and Dh14 billion on five mixed-use, residential projects in Abu Dhabi and Dubai, its chief executive officer...
Etisalat launches the lowest rate for UAE calls
Source : Khaleej Times  
Date : 2014-04-23
This is available to all eLife customers and standalone home telephone customers. etisalat is offering bundles of 200 minutes for Dh49 and 500 minutes for Dh99....
Total 2177 Results in 109 Pages
1 
For more news, views and reports about this topic, please subscribe
to GRC website: www.grc.net
Wed Apr 23, 2014| 22-جماد ثاني-1435هـ
UN, Arab League oppose Syrian poll plan
Pakistan must cope with rapid changes in Saudi Arabia: Minister
Iran MPs seek inquiry into jail assaults
Oman expects 5% growth with steady oil prices
Barrak claims billions in Kuwaiti public funds siphoned off
Non-hydrocarbon sector set to account for 57.2% of Qatar GDP in 2016: QNB
Amnesty urges Qatar to protect migrant workers
Emaar first quarter profit climbs 55%
MERS: Fakieh assures transparency
Top speakers set for refining, petchem forum in Bahrain
Mohammed, Michel witness arms deals
Iran to complete gas export pipeline to Iraq by next 4 months: official
Five people killed, 13 injured in Baghdad blast
Consortium in $ 500m deal for National Petroleum Services
Turkey to boost electricity imports from Iran: energy minister
Syria's chemical weapons wild card: chlorine gas
`
    Newspaper Editorials
America's Asian concerns
Ballot in Syria
More>>  
    Opinions
KSA needs land reforms
Jordan ups the ante against infiltrators
More>>  
    GCC Press Agencies
Day's main stories from the GCC Press Agencies
    Reports
The Legal Classification of the Armed Conflicts in Syria, Yemen and Libya
More>>  
    Bank Reports
Weekly Economic Update: Gulf One Investment Bank
GCC Markets Performance – February 2014
More>>  
    GRC Analysis
Challenging Times for Saudi Foreign Policy
Saudi-Thai Relations
Saudi-Singapore 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 EU and the GCC in Global Governance: Limitations and Future Potential
Saudi Arabia’s Legal Framework of Migration
Kuwait’s Legal Framework of Migration
    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  |   17-- 17 Middle Page :0  --   | Right : 17 - 17--en--sess-enreq-en-coming