New Sukuk Products - A Case for Microfinance Sector by Salma
From HodHood
Contents
Top 20 FREQUENT WORDS
assets 19 microfinance 14 securitization 14 sukuk 13 islamic 11 mfi 11 finance 9 investment 8 price 8 asset 7 investors 7 mfis 7 micro 7 pool 7 financing 6 risk 6 loan 5 rent 5 billion 4 credit 4 funding 4 issuance 4 issuer 4 loans 4 local 4 rps 4 source 4
DOCUMENT KEY POINTS
- how to reach for broader eco sectors a c microfinance and islamic finance objectives hav liti commonalities a socially oriented a promote economic development p a promote ti t cooperation a c awqaf properties a awqaf established for various social and religious pur h a however awqaff properties many a ti b l t because off neglect become dormant non earning assets
- p p a c big investment and earning projects in the musl a not accessible for investment by small investors due t size or due to restrictions on cross broader movement
- mfi ss are twice as profitable as lead a c mfi commercial banks s l ti tto excess liliquidity a c solution bl idit problem islamic banks a good investment opportunities a shorter term cgap
- microfinance a profitable a liquid li id iinvestment p propositiii a c world microfinance is growing at rat p
- a c unsecured a generally not backed by collateral a c short tenor assets a typically less than a year even less than m g g a c veryy high granularity y a very small tick size can be scaled to size a c good credit quality
- microfinance as an asset cl high yield a c high yield assets a typical yields between to p
- a c reasons a wide dispersion and high number of clients a high frequency of collections a cash transactions impediments in serivcer s ability to perfo impair p p performance of the asset p pool
- risk factors servicer ris a c microfinance assets are much sensitive t non performance by the servicer
- a c securitization securitization generally relates to the converting of loans sorts into marketable securities by packaging the loans in and then selling shares of ownership in the pool itself
- securitization vs a sukukizati sukukizati despite the closeness of overall concept sukuk s iti ti as it iis kknown iin itits con equall tto securitization sense
- eligibility of assets for suk issuance a c the most important step for issuing a sukuk determine the underlyingy gppool of assets ie issuer must posses a pool of assets on its b sheet that are transferable to the investors
- a c flexibility in the assets pool to have a blend and musharaka equity assets and other sh compatible assets e g murabaha or istisna e
- c a c list of assets most commonly eligibl the issuance of sukuk are a ijara or leasing islamic mfis are mostly using m a c snadeeq in jabl al hoss al hoss syria a musharaka a c hodeidah programme in yeme a murabaha a c some mfis are also in micro l i ti a istisna a for securitization with resalable need to move towards greater u a salam modes of finance
- eligibility of assets for su issuance cont
- bait al mal al tamweel bm indonesia as of a c members a c funding g source bmts billion rps a c billion rps in a c funded by s investments a c by capital o a c average investment size cooperatives under million rps a c approximately n s i micro enterprise a c serving i t i f di funding capital mill rps a c utilization rate a c exponential growth no
- a c overdue negligi of bmts in than more in in month overdue in data source timberg thomas a
- microfinance to vegetable ve a c for dailyy working p g capital options a interest free loan a mudarabah on dailyy or weeklyy basis possibility of securitization a yes a securitization can be used to fund the initial phase and mud payments can be passed through risks a liquidity and price risk are taken care of due to short term contract l k off proper accounting
- a lack i mi mittigation i i through h k ii h llocall market a fraud mitigation through oath software copyright example
- exchange of asset at an exercise price assets spv originator sukuk price issuer rent price r t rent investors assets leased
- fig structure of ijarah suk li off multiple pooling mfis asse lti l mfi micro finance institutions put option with investors
- exchange of asset at an exercise price assets spv originator sukuk mfi price issuer rent price rent r t investors assets leased
- fig structure of ijarah suk si l mfi single mi mfi micro finance fi ass micro enterprises a b c put option with investors
- examples of recent securitizati microfinance loans conventional finance blue orchard finance and compartamos mexi d l i w developing ld m world marketk t a c million microfinance a c million bond bond a c year maturity a c year maturity a c rated aa for local a c million credit guarantee a c loan guarant by opic a c senior notes bps above a c target g to raise fun tbills junior tranches b w institutional invest bps above tbills pension and mutu a c serve microa c first local market entrepreneurs in four since then r
- a c first int l issue source accion insight no
- billion us mm equivalent a c six yyear p g program of bdt billion issuance ever months each of year maturity a c rating aaa local market securitization u d l i assett pool a c underlying million l
- h tt illi short term l loa average size us a c software to track dynamic pool of receivables source daily star january
- thank you comments and suggestions gg are welcome salman syed ali email ssyedali isdb
- org phone islamic research and training institute islamic development bank
Please note, This is an auto generated summary based on sentances position in the document and other factors
DOCUMENT WORD ANALYSIS
Main Category
- AlHuda Material\sukuk islamic
KeyWords
sukuk islam asset finance issu certifi financi contract bankable bond ijarah leas structur profit holder rate developed purchase risk investor
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DOCUMENT REFERENCES
Number of Pages
28
Published Date
2007-01-28 17:48:52
