EPICENTRE - Sukuk Market Continues To Expand In 3Q14

October 2014 / Muharram 1436H As of third quarter ended-September 2014 (3Q14), cumulative annual issuances in the global primary sukuk market has reached USD94.65bln, outperforming the same period last year by an impressive 14.1%. A total of five sovereign issuers have debuted in the primary market during 3Q14 including three non-Organisation of Islamic Cooperation (OIC) countries. These developments notably indicate the growing acceptability of sukuk instruments as viable tools for fundraising by various issuers including sovereigns and corporate institutions. OTHER HIGHLIGHTS: Speech by Prime Minister of Malaysia at the World Islamic Economic Forum 2014 - "Innovative Partnerships for Economic Growth" Prime Minister's speech on education and innovative partnership between private sector education providers, governments and communities. READ MORE HERE Keynote Address by His Royal Highness Sultan Nazrin Shah, Sultan of Perak, Malaysia and Royal Patron for Malaysia’s Islamic Finance Initiative at The Islamic Forum Dubai 2014 Islamic investments today are not only an established but also a rapidly growing asset class. From humble beginnings, and after more than three decades of, at times, hesitant growth, this asset class has broadened and deepened to now provide both an investment alternative for the more than 2 billion Muslims today, as well as a complement for non-Muslims in the international fund management community. READ MORE HERE Speech by Governor at the Dialogue Session at the 10th World Islamic Economic Forum (WIEF) – “Sukuk Development and Financial Stability” This recent decade has witnessed the accelerated development of the global sukuk market. The success of the sukuk market reflects its ability to meet the changing and differentiated demands of the mordern economy, to develop innovative and cutting edge structures and products, and to achieve such issuances at competitive pricing. READ MORE HERE Malaysia and UAE Collaborate on Capacity Building for Islamic Capital Market The Securities Commission Malaysia (SC) and the UAE’s Securities and Commodities Authority (SCA) exchanged a memorandum of understanding (MoU) to forge a strategic partnership in capacity building between the two leading regulators of Islamic capital markets. READ MORE HERE INCEIF Delivers Global Talent Boost The 6th Convocation of INCEIF (The Global University of Islamic Finance) welcomed 211 graduates from the postgraduate programmes. Amongst the graduates are students from Muslim-minority countries including Japan, France, India, United Kingdom, USA, South Korea and Philippines. The increasing diversity of INCEIF graduates reaffirms INCEIF’s role in developing world class talent for the global Islamic financial services industry. READ MORE HERE ISRA Thematic Workshop 2014 The International Shari’ah Research Academy for Islamic Finance (ISRA) has organized a half-day thematic workshop titled, “Application of Tanazul (Waiver of Right) in Sukuk and Preference Shares: A Critical Analysis from the Shari’ah Perspective”. The workshop attracted around 80 experts, comprising industry practitioners, academicians, Shari’ah scholars and regulators. READ MORE HERE Please log on to www.mifc.com or call +603 26923481 for more information. Copyright © 2014 Bank Negara Malaysia. All rights reserved. DISCLAIMER :The copyright and any other rights in the selection, coordination, arrangement and enhancement of the information in this electronic newsletter are owned by Bank Negara Malaysia. No part of this electronic newsletter may be modified, reproduced or published without prior permission in writing from Bank Negara Malaysia and the relevant copyright owner. Although every effort has been made to ensure the timeliness, accuracy, adequacy and completeness of this electronic newsletter, Bank Negara Malaysia accepts no responsibility or liability for errors or omissions, if any. The information contained in this electronic newsletter is only up-to-date at the time of transmission, and is not exhaustive and may be updated from time to time on the website: www.mifc.com. Bank Negara Malaysia shall not be liable for loss or damage caused by viruses transmitted by this electronic newsletter. Bank Negara Malaysia is not responsible for any unauthorised changes made to the information in this electronic newsletter or for the effect of such changes. Bank Negara Malaysia appreciates any feedback or suggestions for improvement.