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Home Publications Amanie In The News

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PostHeaderIcon Islamic funds must explore new territories


March 04, 2010    

Source: Al Wahda (UAE), Opalesque, Gulfbase.com (KSA), Trader Arabia (UAE)

The $35 billion international Islamic funds industry must offer more innovative areas of investment and expand into untapped geographical markets, said renowned Shariah scholar Dr Mohammed Daud Bakar.

Dr Bakar, who is also managing director of Dubai-based Amanie Islamic Finance Consultancy and Education, said Islamic fund managers should look at commodities such as gold and silver, metals and agriculture as well as relatively untouched markets for Islamic funds like Australia, Thailand and Vietnam besides Africa and Latin America.

"They would provide interesting propositions for investors while other industries like shipping, technology and aviation could be fruitful areas for innovators to look at in the creation of new funds," Dr Bakar said, while speaking at ceremony organised to announce the one-day symposium and the annual Failaka Islamic Fund Awards.

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Islamic finance is coining it

Jan 16, 2010 11:55 PM | By Mohd Daud Bakar | Sunday Times, Business Times, Money, South Africa

Islamic finance's global worth is estimated to be between R2-trillion and R3-trillion, with an annual growth rate of 15%- 20%.

This growth has continued throughout the global economic crisis - albeit at a slower pace - largely because of vigorous screening processes and stringent corporate governance practices in dealing with excess liquidity in many oil-producing countries.

Islamic finance is both a new and an old phenomenon. Its guiding principles originated in the early days of Islam. The modern form is new to many stakeholders such as regulators, standard-setting bodies, shareholders, practitioners and much of the general Muslim population.

The modern rebirth of Islamic finance took place in the Middle East in 1975 when the Dubai Islamic Bank became the first Islamic commercial bank in the world.

The first Islamic insurance companies, or Takaful, were established in Sudan and Dubai in 1979. Today, there are 300 Islamic finance institutions operating in more than 75 countries.

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Guide to Issuing Sukuk from the DIFC is Published

DIFC Press Centre 21 December 2009


Prepared by Clifford Chance, Amanie Consulting, the DFSA and the DIFC Authority, the guide provides a summary of sukuk structures and information on issuing sukuk in DIFC

The Dubai International Financial Centre Authority today announced the release of the “DIFC Sukuk Guide” - a comprehensive introduction to various sukuk structures, as well as legal and regulatory information on issuing sukuk from the DIFC and listing sukuk on NASDAQ Dubai.

The guide reflects the leading role that DIFC plays in global Islamic finance. Not only is it home to the largest exchange for sukuk by listed value, worth more than US$16 billion, it provides an operating, listing and incorporating environment that is world class, and ideally suited to structured Islamic, and non-Islamic, products.

“Promoting continued growth and development in the dynamic field of Islamic finance is a key priority for DIFC and is the reason behind our continued efforts to enhance the legal, regulatory, operating, listing and human capital infrastructure within DIFC to nurture this sector,” said Abdullah Mohammed Al Awar, CEO of the DIFC Authority.

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KLIFF 2009 To Attract Over 30 International, Regional Speakers


KUALA LUMPUR, Oct 20 (Bernama) -- Over 30 international and regional speakers are expected to present their views on Islamic banking and finance at the sixth Kuala Lumpur International Islamic Finance 2009 (KLIFF 2009), which will be held on Nov 2-6.

Among them are Sheikh Nizam Yaquby (syariah scholar, Bahrain), A. Rushdi Siddiqui (global director, Islamic Finance Thomson Reuters), Dr Aznan Hasan (syariah advisor, Bank Negara Malaysia), Dr Mohd Daud Bakar (chief executive officer, International Institute of Islamic Finance) and Datuk Yusli Mohamed Yusoff (chief executive officer, Bursa Malaysia).

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