The US Securities and Exchange Commission altered new rules for asset-backed securities to ease privacy concerns, but investors want more disclosure.
Bursa Malaysia is the leading global centre for Islamic capital markets. Its chief executive tells James King that the exchange is still looking to innovate, with expanding the borders of Islamic finance a key priority.
After a false start, Islamic banking has become the fastest growing segment of the Pakistani banking industry, with the full support of the government. Apart from the ever-present challenge of liquidity management, most local Islamic bankers agree that their most important task now is to build awareness in the country.
The growth of 'hard' currency sukuk issuance is pushing the market to the next level, as new issuers and new investors flock to the sharia-compliant finance space to capitalise on the growth prospects of emerging economies in the Gulf and Asia.
Hussain Al Qemzi, CEO of Noor Bank, discusses the long-term prospects for the Islamic banking sector, describing the valuable role it can play in promoting greater cross-border co-operation and operational harmonisation.
Four leading representatives discuss the impact of Basel III on the Islamic banking industry, what benefits the regulations will bring and why Islamic banks are well positioned to meet the requirements.
The past year has seen a number of firsts in the Islamic finance industry, including the first sovereign sukuk from the West. This represents a huge step forward for an industry previously considered niche. Islamic players now must consolidate on these gains by broadening their product offerings, expanding their customer bases and targeting new levels of interoperability with global markets.
Investors hungry for higher yields have embraced hybrid securities, with hybrid issuance for both corporate and financial instruments increasing sharply in the past two years, despite the risks.
With activity nearly back to pre-crisis levels and promising new trends emerging in the corporate bond market, it had been a strong year for the debt capital markets, until a couple of days of de-risking in mid-October threatened to rock the boat again.
While the growth in Islamic finance slowed down in 2013 for some smaller, less-developed markets, others such as Malaysia and the Gulf countries, saw strong results.
Global Risk Regulator
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