Secondary market and regulation are necessary to take sukuk to the next level
By Faisal Sarkhou, Executive Vice President - Head of Financial Services & Investment Division, KIPCO Asset Management (KAMCO) |
The Islamic finance sector has become a dynamic, fast-growing global phenomenon. 2011 proved to be a watershed moment for the industry as global Shariah-compliant assets crossed the USD 1,000 billion mark. According to ‘The Banker’, the number of institutions reporting Shariah-compliant activity has increased from 221 in 2007 to 348 in 2011. Similarly, the number of institutions registered to conduct Shariah-compliant activities has risen from 525 in 2007 to 675 in 2011. The industry is expected to record a compound annual growth rate (CAGR) of 15% to 20% until 2015.
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Investing for takaful - there IS a solution
By Mark Watts, Head of Fixed-Income - Asset Management Group, National Bank of Abu Dhabi |
For many years, Islamic institutions, especially takaful companies, have struggled to invest according to the traditional balanced investment approach. In many cases familiarity with equities and comfort with vanilla deposits have meant that many institutions have been forced to adopt a somewhat barbell-type approach to investing, somewhat skewed toward cash and equities.
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