Growth and Diversification in Islamic Finance

Top 20 FREQUENT WORDS

islamic 124 finance 73 kpmg 53 international 38 financial 37 services 33 sector 27 mister 26 products 26 member 25 sukuk 24 shariah 23 banks 21 malaysia 21 firms 20 client 18 countries 18 global 18 independent 18 swiss 18

DOCUMENT KEY POINTS

hes in malaysia the result has been that more in to in the prospects for islamic finance have international banks are setting up new islamic financial also encouraged some conventional islamic finance teams and one would re being established banks to embark on the process of be hard pressed now to find banks not try s traditional converting to islamic financial having the capabilities to intermediate f co operation institutions
limited een percent looking like a valid financing option to gsh a wholly owned subsidiary of individual islamic be explored by businesses which want securities house group of kuwait the ed even faster to be shariah compliant as well as by global financial services companies or example arcapita other businesses which want to saw islamic finance as a market for ported year on year diversify their investor base or benefit liquidity management and cheap shortwth nearer to from the ongoing infrastructure term funding

exchange traded funds etfs similarly despite the real estate boom in the some question as to have been slow to take off despite the gcc and a warning from standard t innovation is fact that two leading islamic equity poor s in a report that ifis may be over the moment given index providers dow jones and ftse exposed to exposure to the real estate s relatively young and have been trying to promote them in markets bankers such as peter oducts are still the past two years

products cannot be imported britain share the responsibility and for years before wholesale from the middle east now there is a feeling of fraternity as a business division they must be approved by an rather than rivalry between them
this year hsbc populations are so far progress has been steady if not amanah will run radio and tv slim hsbc amanah spectacular

them doubt whether these products gcc states for instance have catered ustry alone is a are the right ones for a market which is for a stabilization of the oil price to e can crack the still at the lower end of a steep us per barrel
some economists stress that the real estate investments test for the islamic finance market cc countries where mister jaidah of qib agrees that shariah would be its ability to absorb shocks in hy and robust yearscholars have an important role to play an era of low oil prices and budget growth should in product innovation

sukuka the islamic finance world s eryone will be in a he is more concerned about the equivalent of a traditional bonda has e banks adds impact on asset quality and their ability taken the islamic finance industry by to comply with the capital and risk storm over the past two years with management provisions of basel ii
it would be much harder to s and we managed deal with credit problems than with the global sukuk market is still relatively have short medium liquidity proble miss there will always be small a the estimated volume of urities explains mister liquidity

if the chmark debut people who buy the sukuk have no nd to spearhead the way to sell them apart from holding euro sukuk market them to maturity there is not much and eu corporate incentive to buy the certificates

the ntially open to run private companies has allowed proceeds would enable unicorn to nicorn has a potential unicorn to arrange the largest ever acquire more businesses and also people and all the private bond sale in saudi arabia grow organically by for example wn and manage
after the investment banking product ic investment bank instead it has created balanced range is filled out mister al refai plans to et emerged says mister investment funds using a mixture of tackle the consumer market

to abc s mister smith the process of t of the sector these include the issue of regulatory calculating regulatory capital and be addressed capital and relative risk weightings relative risk weightings under basel ii is under basel ii and the islamic financial very important for the islamic banking services board ifsb guidance a lack industry

nd legal many muslim countries still do not changing the law or have enabling legislation in place covering the authorization of islamic introducing enabling nd for islamic finance banks issuance of sukuk and legislation takes a lot of handsome returns securitization establishment of trusts me experts in the and special purpose vehicles spvs persuasion and time says rned that the rapid the introduction of takaful islamic one islamic banker has not been insurance products and other such opment in the islamic issues
if you are going to have amic finance islamic banks operating in your main objectives of system one of the most important he leading center for issues is to have a high quality ucation and regulatory framework and good capital for the global supervisory standards

some notable issues include the lack financial reporting of a dedicated islamic banking law in saudi arabia few laws relating to the quality and transparency of financial corporate governance in many mena reporting and disclosure in the islamic countries the lack of islamic deposit finance industry differs significantly insurance schemes only malaysia and from one regulatory jurisdiction to turkey have such schemes in place another
beside the cas and rapidly growing islamic finance pvs risk management guidelines for ifis industry said the report in order to the ifsb has released prudential avoid fragmentation and ultimate regulations on corporate governance ghettoisation at a time when shariah and an exposure draft on disclosure compliant investment vehicles as an and transparency

managing director of doctor zeti akhtar aziz is the celebrated ion of osool governor of bank negara malaysia the the rising involvement of women in ny in jeddah we malaysian central bank under whose islamic finance has some potential to inated society which watch the islamic banking sector has play a role in tackling the human g women as a flourished and who brought forward resources bottleneck in islamic finance
one of the mic consumer most experienced is stella cox there is also a straight business case a process which is managing director and head of islamic for an increasing role for women in left the bank to be finance at dawnay day cap the londonislamic finance they can unlock major ecutive officer of based islamic finance commodity and new market segments for islamic bahrain a position intermediation entity whose islamic banks

part of the issue with lack of work has gone into standardization of accounting oifi standards it is standards is the variation between ording to several products offered by different ifis
for terviewed for this example a mortgage product could be would adopt these structured differently from one ifi to regulated markets another which could give rise to a people do not talk different accounting treatment

has been done to bridge the gap tend to side with the gcc model between malaysia and the gcc simply because this is where the countries and to promote greater greatest liquidity resides
this can apply not only to products but also to kfh s mister ali al ghannam welcomes operations and systems because greater convergence but doubts that it compliance can depend on certain is achievable in the short term

erformance the western rating agencies have so far declined to develop a specific rating mplexities the methodology and criteria for ifis and ring the performance instruments based on their unique l products can be shariah compliant structures arguing s basel ii demands that their current methodology and risk by rating criteria for rating conventional ating of ifis and institutions and instruments suffice
and sukuk especially nevertheless institutions such as kfh s are important to are prepared to give the western rating r individual agencies the benefit of the doubt of a specific stressing that performance er the major western measurement is a two way education ch as standard process and that the western d fitch have been agencies are learning just as much processes and from us

the between the banks advisory er is that advisory organizations and law fir miss to be well ve a clear separation mister smith of abc however warns that diting services from the industry point of view only a ny offer both
over the past three decades provide assistance many of the primary islamic finance ues including tax tools such as murabaha mudaraba nce risk procedures and ijara were explored and reworked nd addressing through the process of collaboration n capital

the international e world bank and the latter has to a large extent been tee of the bank of discredited because of the ments are all fundamental anomalies that persist sector in an attempt especially in dealing with the nd to promote global correspondent banking relations of the practice through the islamic banks
as our interviewees indicate ential for expansion there is a strong appetite for growth nd consumer finance as such regulators such as doctor zeti and diversification both among ous muslim akhtar aziz governor of bank negara regional islamic banks and global ditional markets are malaysia see much greater majors

no member firm has any authority to obligate or bind kpmg ons are those of the interviewees and the economist intelligence unit and do international or any other member firm vis a sent the views and opinions of kpmg international or kpmg member fir miss vis third parties nor does kpmg tained within this document does not constitute endorsement by the eiu international have any such authority to or kpmg member firms of any of the companies products or services obligate or bind any member firm
tel asian sub continent region services reyaz mihular bi partner financial services kpmg in india tel region africa region services ahmed jaffer partner financial services kpmg in south africa tel ng region services ng tained herein is of a general nature and is not intended to address the C kpmg international

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Main Category

AlHuda Material\islamic banking

KeyWords

islamic banks banking financial finance investment conventional institutions funds risk financing deposits assets services management international countries equity profit products

DOCUMENT REFERENCES

Number of Pages

22

Published Date

2007-03-30 17:51:36

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Growth and Diversification in Islamic Finance

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Top 20 FREQUENT WORDS

DOCUMENT KEY POINTS

DOCUMENT WORD ANALYSIS

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