Islamic finance is one of the shining examples of the positive influence and ethical pillars of the Shariah

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Your trial subscription ends on Every cloud... Islamic finance is one of the shining examples of the positive influence and ethical pillars of the Shariah – and when we see the conflict and troubles afflicting so many parts of the world it is worth reminding ourselves that for every negative there is always a positive. Our cover story looks at just that, exploring the impressive growth of Iraq’s economy despite the danger in which the country now finds itself as it slips once more towards civil war. Our IFN reports also highlight both the positives and negatives: with a look at Saudi’s exciting new sovereign wealth fund, the versatility of the new Virgin Mobile financing, the positive impact of Malaysia’s capital market liberalization, the winner-in-waiting of our Sukuk race and the recent developments in Islamic commercial insurance underwriting. In an extra-full issue this week, we also bring you reports on the factors that could inhibit investment in Africa, the effect of the new GST on Malaysia’s Islamic finance industry, the potential impact if Qatar loses the World Cup and the Islamic finance implications of the upcoming ASEAN Economic Community. Daud Vicary once more provides his monthly column, while we also have a special update on the last week’s inaugural IFN Iran Forum from Majid Pireh of the Iranian SEO. Our analysis reports cover Thailand and cross-border finance; while our case study looks at the Etiqa Takaful Sukuk issuance; and IFN correspondents report on Indonesia, Japan and the Islamic leasing sector. Our country feature this week is brought to you by Aamir Shamim of the Islamic Bank of Thailand, who looks at how the Thai economy is recovering from the recent political turmoil; while we also have special reports from Chowdhury Shahed Akbar of Southeast Bank on Islamic windows in Bangladesh; Mohamed Damak of S&P on the lack of integration in the Sukuk markets; and Mayada El-Zoghbi of CGAP on new methods of Muslim microfinance. Cover Story Iraq: A nation on the edge Although the ongoing conflict in Iraq has been an inevitable impediment to the development of its financial markets, in recent years a surprisingly strong macro environment has driven impressive growth in the banking sector, while renewed interest from foreign investors has highlighted its exceptional potential. Column Daud speaks IFN Iran Forum 2014 Post-Event Report Gateway to a new market IFN Reports Sukuk race: Finally, a winner in sight New opportunities in Islamic commercial insurance Saudi’s new sovereign wealth fund — more exciting than you might think What impact will the ASEAN Economic Community have on the region’s Islamic finance sector? Virgin Mobile financing — testament to the versatility of Islamic instruments Liberalizing Malaysia’s capital markets paints a brighter picture for Sukuk What impact will the implementation of GST have on Malaysia’s Islamic finance industry? What if Qatar loses the right to the World Cup? No big deal. Africa: Approach with caution IFN Country Correspondent The market trends of Islamic investment funds in Indonesia Effective branding of Islamic finance in Japan IFN Sector Correspondent Leasing: The potential of microTakaful for the poor microfinance segment IFN Country Analysis Thailand: An opportunity for Islamic finance? IFN Sector Analysis Cross-border Islamic finance: The international impact Shariah Pronouncement A company has sought financing from an Islamic bank. As stated by the company, the utilization is required for two purposes: To meet with working capital requirements, such as procurement of new IT system and other infrastructure-related expenditure besides payment of staff salaries. Case Study Maiden Sukuk issuance: Etiqa Takaful Feature Thailand: Time to start afresh Thailand has had its share of political crises during the past 10 months, which saw the closure of Bangkok when the protesters against the government took over the streets of the city. The political turmoil not only took 27 lives but also took its toll on the economic growth of the country.

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