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IFN CAPITAL MARKETS GUIDE 2014

It’s been quite a year for the Islamic capital markets, and with a line of landmark deals marching their way through the months of 2014 there can no longer be any doubt of the position the sector holds as the golden child of the Islamic finance industry.

The Shariah compliant capital markets this year have not only grown in terms of size and sophistication but have made strides in global reach, mainstream acceptance and investor demand.

Increasingly innovative structures to meet the complex treasury demands of both financial and corporate institutions have developed in the private sector, while on the sovereign side the debut offerings come from nations as diverse as the UK, Luxembourg, Pakistan, South Africa and Sharjah.

In our quarterly Capital Markets Guide we bring you a round up of the markets from all angles and aspects, and covering areas across the globe. From Africa to Asia, Europe to the Middle East and not forgetting the growing potential of the United States, the guide provides a comprehensive round-up of market activity throughout the year.

In addition, the results of our annual Islamic Investor Awards demonstrate just how competitive and sophisticated the industry has become — with a strong showing from all regions making the honors one of the most closely contested and prestigious battles of the year.

We wish all our readers a fruitful festive season and a productive start to 2015.

 

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Contents: 

  • COVER STORY

    2014: Year of the sovereigns
    New entrants, groundbreaking deals, and spiking interest — the Islamic capital markets in 2014 have certainly been nothing short of exciting. But even with so many new players in the arena, has the stage seen any real innovation compared to the year before?... more

  • CHAPTER

    Venturing into a new realm: Sukuk issuances by corporates in non-Islamic jurisdictions
    The past several years have seen a steady, though slow, rise in the number of Sukuk being issued by and to non-Islamic entities from non-Islamic jurisdictions. Such Sukuk issuances often encounter a number of legal, accounting, tax, and obviously Shariah structuring issues which tend to vary depending on the type of assets backing such Sukuk issuances, as well as the domicile of such assets. Whilst there has been much debate on the topic of ‘asset-backed’ versus ‘asset-based’ Sukuk issuances, the general preference for Sukukholders and Shariah scholars alike is for the former asset-backed structures which are viewed by some as more in line with the principles of Shariah in light of the 2008 financial crisis... more

  • COUNTRY REPORT

    Home of the brave: Where next for Islamic finance in the US?
    With the surprise return of Goldman Sachs to the Islamic debt capital market last week, a groundswell of new funds entering the asset management arena and increasing activity in the US property market, it looks as if Islamic finance could be back on the map for the world’s biggest economy. But will the US remain a featherweight or finally step up to fight in its own division?... more

    Africa: A destination for long-term growth investments
    The African region has benefited from increased investment flows on the conventional side which as a result have simultaneously boosted demand and created a surge in appetite for Shariah compliant investment products across the continent. With several dedicated Shariah compliant investment houses, Africa is expected to bear strong growth prospects over the long-term... more

    Asia: A continent of substantial development and vast opportunities
    The Asian Islamic capital market has witnessed substantial growth over the past year; gaining considerable interest from the financial markets and becoming an increasingly integral component of the Islamic finance industry... more

    Europe: A bright prospect for 2015
    Gaining traction in the Islamic finance community, countries across Europe have demonstrated their commitment to developing their Shariah sector locally. With the leverage of a more developed economy Islamic finance stands to gain significant potential in these mature markets... more

 

Monday, 01 December 2014