The development of Islamic hedge funds and other complex instruments, as well as the provision of mortgages for a market hungry for property, shows how far the Islamic finance industry has come and where it is heading, write Mark Ford and Jon Marks.

Given its sound financial infrastructure and current economic boom, the surge in Jordanian bank profits looks set to continue. Stephen Timewell reports from Amman.

Faced with political instability following the Israeli-Hizbullah war, Lebanon’s banks have expanded abroad in order to diversify their income sources. Stephen Timewell reports from Beirut.

The viability of capital markets in African countries is looking more promising, underlined by a successful bond issue denominated in naira by the African Development Bank. Edward Russell-Walling reports.

The current Zambian case not withstanding, most distressed debt traders form a valuable part of the financial system.

Algeria has lightened its debt burden and foreign investors at last seem keen to invest in subsidiaries and privatisations, write Jon Marks and Nadine Marroushi.

Ibrahim Al-Assaf
Finance Minister Saudi ArabiaOil revenues unemployment

Sultan Bin Nasser Al Suwaidi
Governor, United Arab Emirates Central Bank

Donald Kaberuka, president of African Development Bank, admits that it is folly to expect rich countries to honour their financial commitments to Africa and that investment must be courted if the continent is to move forwards. Interview by James Eedes.

The Banker heralds the world’s best central bank governors who have stuck to their guns when under fire, whether it be encouraging diversification, controlling inflation or fighting off the governmental propensity for meddling.