Islamic Finance

Latest News for Islamic Finance

• May 27, 2010 - Islamic Finance Needs To Step Up Wealth Management Capability - Mahathir
  

  Dr Mahathir Mohamad, the former Malaysian prime minister and architect of the country's Islamic banking policy, is calling for improvements to sector's wealth management capabilities. Speaking at the Malaysia Showcase Dinner at the 7th Islamic Financial Services Board Annual Summit in Bahrain, Dr Mahathir noted that Muslims and Muslim countries do not value or manage their wealth properly, which has created a culture of dependency and a lack of capacity building.

• October 22, 2007 - Islamic Assets to Grow by 20 Per Cent Annually
  

  Islamic assets worldwide are expected to grow 15-20 per cent a year. This is the view of Malaysia's deputy finance minister Datuk Awang Adek Hussin.

• September 11, 2007 - Hong Kong Woos Islamic Investors
  

  Hong Kong wants a major role in the $1 trillion global Islamic finance market and is taking steps to develop a local Islamic bond market. Financial Secretary John Tsang, speaking to investors, said that Hong Kong is targeting wealthy individuals in the Middle East and in other parts of south east Asia.

• September 5, 2007 - Half of All Muslims Will Use Islamic Banking by 2015
  

  Half of all Muslims worldwide will deposit their money in Islamic banks by 2015 and an estimated 50 to 60 per cent of total savings of Muslims globally will be managed by Islamic financial institutions in Asia, according to specialists in Islamic banking at the 5th International Islamic Finance Conference in Malaysia. Professor Dr Bala Shanmugam, one of the most respected commentators on Islamic finance, said there had been major growth in shariah-compliant financial service providers from just one in 1975 to more than 300 globally today.

• June 27, 2007 - Pan-Asian Shariah Index Launched
  

  Standard & Poor’s has announced the launch of its S&P Pan Asia Shariah Index, the latest addition to the S&P Global Shariah Index series. The new index, which draws stocks from nine Asian markets in the S&P Citigroup Global Equity Index, will enable Islamic investors to benchmark their investment on a regional basis.

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