Rapids • Deals • News • Takaful • Asset Management • Ratings • Moves
6th May 2015 (Volume 12 Issue 18)
Protecting the future
One of the central tenets of the Shariah is to acquire, spend and preserve wealth in a responsible manner. Retirement planning is one of the most important issues of our time, in an aging world where the demographics are changing at a rate of knots. This week, our cover story examines what various Muslim majority jurisdictions are doing to meet this need, and what more needs to be done to ensure the future preservation of Muslim populations as the world changes.
Our IFN reports cover Indonesia’s Hajj funds, re-Takaful and the Malaysian Sukuk market while our correspondents bring you news on Afghanistan, Turkey and Hong Kong. Our features look at Pakistan and asset management in Bangladesh brought to you by Hussain Kureshi and Chowdhury Shahed Akbar respectively, while we also have special reports on Ijarah financing from Shoeb Sharieff of IjaraUSA.com and SRI investing in India by investment banker Tushar Garg.
Our people are the most precious resource this planet has, and we must take care of all generations – young to old. This week, our issue explores the full range of options and we hope you find it as rewarding to consume as we do to create. Happy reading!
Cover Story
Islamic pensions: An urgent opportunity
The knotty problem of Islamic pension provision is nothing new, and the slow growth of its ability to meet growing demand — whether through public initiatives, private participation or Takaful provision — has long been a cause of concern. Yet in recent weeks, developments in key Muslim countries such as Malaysia and Indonesia have brought the issue back to the forefront — and highlighted the importance of a continued focus on the future. LAUREN MCAUGHTRY looks at innovation in the industry — and asks whether the GCC is now in danger of being left behind.
IFN Reports
•
Hajj boost for Indonesia
•
Re-Takaful: Reinventing itself
•
Malaysian Sukuk market — a slow first quarter
•
Kuveyt Turk diversifies funding base; breaks into Malaysian Sukuk market
•
Company Focus: Finance House
•
Aviation industry leans towards Islamic finance
•
London eyes holistic Islamic finance growth
•
Pakistan enhances Modaraba infrastructure with new rules
•
Sovereign Sukuk: Egypt and Indonesia
•
IFN Weekly Poll: Three years on from Qatar’s ruling eliminating Islamic ‘windows’, do you think this system works?
•
IFN Global Trendswatch
IFN Country Correspondents
•
Recent updates in the Turkish finance sector
•
Afghanistan: Islamic finance gathering momentum
•
Islamic finance opportunities in China and ASEAN countries
IFN Country Analysis
•
Islamic finance in Bosnia-Herzegovina — an uphill battle
IFN Sector Analysis
•
Trading and brokerage in Islamic finance
Case Study
Malaysian Sukuk: Rights as a new asset class
The government of Malaysia (GOM) successfully priced a US$1.5 billion dual-tranche Sukuk on the 22nd April 2015. The 10 and 30-year certificates achieved a pricing of 20bps and 15bps over treasuries, respectively.
Special Reports
India: Could Islamic finance or socially responsible investing or ethical banking impress the fastest-growing economy of the world?
India’s father of the nation, Mahatma Gandhi, famously said that there is enough on Earth for everybody’s need, but not enough for everybody’s greed. Taking forward the Gandhian principle of ‘empowerment’ and ‘sustainable growth’ is Gujarat International Finance Tec-City (GIFT), India’s first IFSC (international financial services center) at Gandhinagar, Gujarat, India.
Why and how the Truth in Lending Act matters to Ijarah loans
Just as good Islamic finance strives to make sure that Muslims get to partake in the American real estate market and stay true to the fair principles of Shariah law and away from usury and Riba, the Truth in Lending Act (TILA) was designed and implemented through the Federal Reserve to level the playing field and protect consumers from unscrupulous lenders and creditors in the US. This federal law was first introduced in 1968 and was designed to inform consumers about their rights when it comes to credit.
Features
Pakistan snippet
The stock market in Pakistan has offered investors returns of 300% over the past four years in dollar terms. The story has taken a different twist, however, in 2015.
Non-performing loans in Bangladesh: Islamic banks are better off
While a significant amount of the non-performing loans (NPLs) in the country are being held by commercial banks, especially state-owned banks, specialized and private commercial banks, the banks pursuing Islamic banking are relatively better off. CHOWDHURY SHAHED AKBAR finds out why. According to Bangladesh Bank, in 2013, the ratio of classified investments to total investments in Islamic banks was 4.2% while it was 8.9% for the overall banking industry and the classified investment to capital ratio was 39.9% for Islamic banks compared to 59.8% for the overall banking sector in 2013.
CONTACTS
Editorial:
Sasikala Thiagaraja
Direct Line: +603 2163 7800 ext 34
Finance:
Faizah Hassan
Direct Line: +603 2162 7800 ext 26
Sales:
Dubai:
Geraldine Chan
Direct Line: +971 4 427 3628
Kuala Lumpur:
Steve Stubbs
Direct Line: +603 2162 7800 ext 55
Subscriptions:
Dubai:
Mithun Gangolli
Direct Line: +971 4 427 3638
Kuala Lumpur:
Siti Amilia Amir Amzah
Direct Line: +603 2162 7800 ext 27
Normal
0
false
false
false
EN-US
JA
X-NONE
MicrosoftInternetExplorer4
" ); (function() { var nn = document.createElement('script'); nn.type = 'text/javascript'; nn.src = 'http://synad2.nuffnang.com.my/lr.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(nn, s.nextSibling); })();