As we end the third quarter, the markets recover from the summer lull and Ramadan recedes into the distance, we are seeing a spate of new deals and renewed activity: including an increasing number of benchmark issues and landmark transactions that demonstrate the evolving innovation and sophistication of the Islamic finance industry.
None of this would be possible however, without the exceptional platform of support from the service providers that assist the sector in its onward march. From standard-setting bodies to index providers, ratings agencies to research firms, advisories and consultancies: these are the players that shape the industry and sustain its momentum through their tireless search for success. In our third supplement of the year, IFN celebrates the best in class of these stalwarts with our 10th annual Service Providers Poll, giving an overview of the industry and awarding recognition to the key players that are driving it forward. In the same issue we also bring you the results of the IFN Law Awards 2014, showcasing the illustrious winners of the sixth edition of these prestigious industry accolades.
We move on to take a look Takaful innovation in Africa with the new livestock scheme from Africa, and talk to CEO Hassan Bashir about its potential impact; while Rosie Kmeid of talks us through the challenges facing the Islamic finance industry and how new technologies can play a role in surmounting these. We also bring you features on the new digital age for Islamic banking; the human capital emergency; and the growth in the global Takaful and re-Takaful industry.
In another rich and varied supplement to our annual schedule, we hope you enjoy the issue and wish all our readers a profitable third quarter.
- COVER STORY
IFN Service Providers Poll 2014: Building on victory
The results are in, and once again Islamic Finance news leverages its unrivalled industry network to bring you the best in sector provider performance over the past 12 months: as voted for by a comprehensive cross-section of peers, experts and industry leaders from across the globe... more
- SECTOR REPORT
Talking about a vibrant market of Shariah compliant technologies
The Islamic finance sector is progressing at unprecedented rates across different jurisdictions yet it still only accounts for less than 1% of the wider global finance and banking industry. discusses the challenges facing the industry and how new technologies can play a bigger role in moving Islamic finance forward... more
- GLOBAL TECHNOLOGY REPORT
A move towards the digital age for Islamic banking
According to an analysis, the 25 largest retail banks in the US spend in excess of US$50 billion a year on maintaining over 43,000 branches nationwide, with the opening of a new branch costing over US$2 million on average. With the cost of establishing and maintaining a physical presence becoming more and more costly, banks both conventional and Islamic are turning to technology to offer a solution... more
- HUMAN CAPITAL REPORT
Human capital of Islamic finance: An asset class yet to be realized
With an Islamic finance professional qualification under his belt, Adam was hopeful in his search for a job in the Islamic banking sector but soon found himself disappointed as Islamic banks turned him away in preference of experienced conventional bankers. Despite the industry crying of a dire talent shortfall, Adam’s experience is not entirely uncommon among fresh Islamic finance graduates... more
- TAKAFUL & RE-TAKAFUL REPORT
Takaful & re-Takaful: Competing at par
The global Takaful industry has developed fairly steadily over the past few years. Recording strong double-digit growth, gross Takaful contributions are seeing expansion year by year, with increasing penetration in various markets globally... more
Takaful innovation at its finest — Africa’s first livestock Takaful scheme
An exclusive interview with Hassan Bashir, CEO Africa, Kenya... more
- AWARDS RESULTS
IFN Law Awards 2014: Weighing the scales
The results are in, the word is out: and once again the industry-leading IFN Law Awards cut a cross-section through the elite of Islamic finance law to bring you the foremost legal leaders in global, regional and sectoral expertise for 2013-14... more