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Liquid wealth of Shariah-sensitive investors in the GCC is expected to add more than $70 billion to Islamic funds by 2013, Ernst & Young Islamic Funds and Investments Report 2011 said.
"This, along with the fact that Islamic funds industry had registered a growth of 7 percent in AuM last year - shaking off a period of stagnation - indicates a significant opportunity to harness the full potential of Shariah-compliant investments", David McLean, Chief Executive of the World Islamic Funds and Financial Markets Conference, said ahead of the 8th Annual World Islamic Funds and Financial Markets Conference (WIFFMC 2012) to be held in Manama on May 20-21.
"With key markets for Islamic finance, especially in Asia and the Middle East, now facing escalating infrastructure and development needs backed by solid economic growth, and the outlook for global lending markets still remaining uncertain, Islamic investments will play a key role in funding these multi-billion dollar projects given the fact that the global liquidity pool continues to shrink. Governments in various key markets are making moves to create a more attractive investment climate for Shariah-compliant finance and are forging greater co-operation between each other and multilateral agencies to attract investments," he noted.
Abdul Rahman Mohammed Al Baker, Executive Director, Financial, Islamic Funds and Investments, said "the increasing interest in Islamic finance in major markets across the globe presents a unique opportunity of expanding the global footprint of the Islamic investments industry. It is therefore important to ensure that the Islamic funds and investment industry has solid and strong foundations for future development and growth.”
“In addition to enhancing the innovations of new Islamic instruments and encouraging more spending in research and development, it is also essential that the Islamic financial institutions develop strategic alliances with other financial institutions globally, especially in the area of products structuring and offering,” he added.
According to estimates from Thomson Reuters, Middle Eastern investment banking fees totalled an estimated $669.2 million during the first nine months of 2017, four per cent less than the value of fee
The King Abdullah Petroleum Studies and Research Center (KAPSARC) addressed the Climate Change Polices and Challenges of the Electricity Transition in the GCC, during the meeting of Association of En
Arab Petroleum Investments Corporation (APICORP) has mandated banks to arrange a series of fixed income investor meetings ahead of a potential five-year benchmark U.S. dollar-denominated sukuk sale,
Qatar has been forced to repatriate significant sums from its sovereign wealth fund to shore up its struggling economy, which continues to experience the impact of an economic and political boycott b
The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, has set up a real estate refinancing company aimed at boosting home ownership in the kingdom, which suffers from a shortage of