Hussein Al Qemzi, group chief executive officer of Noor Investment Group and CEO of Noor Islamic Bank, believes that Islamic finance has the potential to evolve beyond its niche market and become the globally accepted norm in banking. But before it can do this, it must diversify its products and services, as well as achieve greater standardisation.
Middle East
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Old lessons help EBRD strengthen future prospects
November 1, 2013The European Bank for Reconstruction and Development's managing director for the southern and eastern Mediterranean region, Hildegard Gacek, explains how expertise and past experience are now enabling the EBRD to assist Egypt, Morocco, Jordan and Tunisia through a period of great economic and political change.
Spreading the sharia success story
November 1, 2013With sharia-compliant investments outperforming their 'conventional' counterparts, appetite for these products can only be expected to grow. But the industry is still too fragmented, according to Ian Lancaster of Cogent Asset Management, with a lack of cross-border connectivity preventing it from achieving critical mass.
Where does asset management fit in the Islamic finance picture?
November 1, 2013The growth that has characterised the rise of the Islamic finance industry has thus far evaded the asset management segment of the market, with a dearth of institutions focused on the creation of sharia-compliant investment products. John A Sandwick of Islamic Wealth & Asset Management assesses the situation.
Islamic project financing: a health check
November 1, 2013Three senior figures from the Islamic finance industry discuss how sharia-compliant project finance has fared in 2013 after a stellar decade, and look at its prospects – with a particular focus on sukuk – for 2014 and beyond.
The Islamic liquidity management quest
November 1, 2013While IILM's debut issuance of a $490m sukuk in August was a significant milestone for Islamic finance, it will barely dent the industry’s short-term liquidity management issues, which are hampering growth.
Islamic banks weather the storm
November 1, 2013While costs have not changed much for the top 25 Islamic standalone banks between 2006 and 2012, returns have dropped significantly. The Banker takes an overview of the key factors determining their operational efficiency.
Slower and steadier: the new stage of Islamic finance
October 18, 2013The Banker's annual Top Islamic Financial Institutions ranking shows that growth has dropped into single digits for the first time since the ranking began. This, combined with the restructuring of sharia-compliant operations at major players such as HSBC, shows an industry that is entering a new phase of maturity; a phase that is, however, still rich with opportunity.
World
/ Middle East
/ Kuwait
Gulf SWFs look to move with the times
October 1, 2013The Gulf’s sovereign wealth funds have grown in size and influence, adapting to market forces and taking advantage of the global financial crisis. But just how are they generating returns in the current economic climate?
World
/ Middle East
/ Iran
Emerging markets look to SWFs for stability
October 1, 2013A new generation of sovereign wealth funds – from resource-rich economies in Africa and Latin America – has emerged over the past few years. While these new funds are still relatively small, their impact could be sizable if they enable their source countries to secure stable economic growth and mitigate future risks associated with the booms and busts of the commodity cycle.