The global Islamic funds industry is poised for growth witnessing greater demand for Shariah-compliant investment, supported by increasing range of Islamic financial assets available in the market. As at end 1Q2017, the total global Islamic assets under management (AuM) were USD70.8 billion and the number of Islamic funds stood at 1,535. There were only 802 funds with AuM of USD47 billion in 2008.

April 2017 / Syaaban 1438H The global Islamic funds industry is poised for growth witnessing greater demand for Shariah-compliant investment, supported by increasing range of Islamic financial assets available in the market. As at end 1Q2017, the total global Islamic assets under management (AuM) were USD70.8 billion and the number of Islamic funds stood at 1,535. There were only 802 funds with AuM of USD47 billion in 2008. OTHER HIGHLIGHTS: > RAM Ratings: Sovereign sukuk dominated global sukuk issuance in 1Q 2017 RAM Ratings’ latest edition of the Sukuk Snapshot reports sovereign issuance boosted the global sukuk market in 1Q 2017. In March 2017, a total of USD9.1 billion of sukuk was issued globally, which brought the YTD issuance to USD22.2 billion as at end-March 2017. READ MORE HERE INCEIF and Kenya’s Coast International College partnership to make headway in Islamic finance knowledge development in Kenya INCEIF signed a 3-year Memorandum of Understanding (MoU) with Coast International College (“CIC”), the education arm of Gulfcap Group of Kenya providing technical and vocational education by offering courses at the Diploma level. READ MORE HERE Please log on to www.mifc.com or call +603 26923481 for more information. Copyright © 2017 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.