Islamic finance: Front-runners & terms
According to Forbes, Sharia, or Islamic law, manages as much as $500 billion in assets across the globe. The sector is growing at more than 10% per year. Islamic finance thrives to promote social justice by banning exploitative practices. It prohibits gambling with derivatives, paying interest and investing in firms that make pornography.(Source: Forbes)
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According to Forbes, Sharia, or Islamic law, manages as much as $500 billion in assets across the globe. The sector is growing at more than 10% per year. Islamic finance thrives to promote social justice by banning exploitative practices. It prohibits gambling with derivatives, paying interest and investing in firms that make pornography.(Source: Forbes)
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It now is second in terms of listed sukuk, according to Standard & Poor's. It is the first country in the world to issue global sovereign sukuk. Four years later, government-owned Khazanah issued the world's first exchangeable sukuk, and has issued two more since then. (Source: Forbes)
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Like Dubai, Qatar wants to be the leading financial player in the region, and Sharia-compliant investment will play a part in the $142 billion worth of upcoming development projects in the small constitutional monarchy. But the country is facing a burgeoning inflation problem. (Source: Forbes)
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Tagged as the freest economy in the Middle East by the Heritage Foundation and the world's fastest growing financial center by the Global Financial Centres Index, Bahrain's banking and financial services sector, particularly Islamic banking, have benefited from the regional boom. It has emerged as a tempting alternative to the inflation-hit UAE. (Source: Forbes)
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According to Standard & Poor's, London is the sole non-Muslim competitor of the traditional Islamic financial centers. The agency feels that Britain's sovereign sukuk bond--when it eventually arrives--would be only the second sovereign Sharia-compliant bond worldwide to get an 'AAA' rating. (Source: Forbes)
