Wednesday, October 29, 2014

Linking hands


   29th October 2014 (Volume 11 Issue 43)

Linking hands

As the Islamic economy continues to expand and each new foray brings wider international interest and opens up new horizons, it is becoming clear that while there is a lot to be said for first mover advantage, the only way to cement success is to build relationships and develop links across borders. In our cover story this week we showcase a country that is doing exactly that: as Luxembourg's Minister of Finance Pierre Gramegna explains their ambitions and achievements in detail to IFN during his visit this week to the UAE to build links and develop a united Islamic finance platform.

Our IFN reports continue with a look at private equity investments in the US, Sukuk momentum for the year and the significance of Barwa Bank being selected as a primary dealer for IILM’s Sukuk, among other exciting topics. Our analyses cover Sri Lanka and infrastructure financing while our IFN Correspondent reports come from Morocco, Brunei, Oman, Saudi Arabia and on the real estate sector. We bring you special reports on Islamic trusts by Adriana Rocchi of Minerva Middle East DMCC and on credit default swap rates by Hussain Kureshi of OCBC Al Amin and Mohsin Hayat of Millennium Land.

As the World Islamic Economic Forum this week in Dubai yet again draws attention to the industry on a global scale, we give thanks for the sustained and exceptional growth we continue to see in our vibrant and exciting sector – long may it continue.


Cover Story

Building links across borders: Luxembourg looks to make friends in the Middle East
As the global elite converge on Dubai this week for the 10th World Islamic Economic Forum (WIEF), IFN managing editor LAUREN MCAUGHTRY caught up with Luxembourg minister of finance PIERRE GRAMEGNA for an in-depth discussion of the country’s recent activities and future plans. With a renewed focus on uniting its core strengths to build its Islamic offering, Luxembourg is one of the most exciting markets in the industry right now — this week we bring you exclusive insight into its ambitions, achievements and growing influence in the global Islamic sphere.

IFN Reports


IFN Country Correspondents


IFN Sector Correspondent


IFN Country Analysis


IFN Sector Analysis


Shariah Pronouncement


Turkiye Finans’ Malaysian Sukuk debut
Turkish participation bank Turkiye Finans (TFKB) successfully tapped the Malaysian Sukuk market on the 30th June 2014 with an RM800 million (US$244.7 million) Sukuk issuance, which marks the first Malaysian ringgit Sukuk program to be established by a Turkish issuer. Speaking to Sami Bozdag, vice-president and head of financial institutions at TFKB, NABILAH ANNUAR explores this historical deal.

Special Reports

Trust is key in successful estate planning
Families in the know in the Gulf are increasingly looking at established centers such as Jersey to provide a better balance to the forced heirship provisions of Shariah Law within the context of a trust arrangement.

Credit default swaps and credit protection: A new concept
Without trying to identify or name the product, HUSSAIN KURESHI and MOHSIN HAYAT attempt to introduce a simple concept – a Takaful policy that covers a financier for losses incurred due to defaults on a credit portfolio

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