Wealth Management

Liechtenstein Islamic Finance Conference

Schedule
October 28, 2014, Tue 09.00 - 16.45 h

Content
At the first Liechtenstein Islamic finance conference, the Financial Market Authority (FMA) and the Propter Homines Chair for Banking and Securities Law at the University of Liechtenstein will examine the challenges to and opportunities for Islamic finance structures and sharia compliant financial intermediation for Liechtenstein. We believe that Liechtenstein’s expertise as a renowned private and family wealth centre with a strong preference for non-leveraged long-term investments, well-developed trust and foundation laws, as well as a competitive financial regulation may provide the starting point for offering services in the Islamic domain. We are delighted that experts in the field of Islamic finance and sustainability will assist us in answering the questions on how Liechtenstein may benefit from Islamic finance, and how Islamic investors and clients may benefit from Liechtenstein.

We would like to advise you of the coming Liechtenstein Islamic Finance Conference and would appreciate your participation. The conference concerning

FAAIF Brings Islamic Finance to the United States

FAAIF CEO Camille Paldi says the potential for Islamic finance, sukuk, and takaful is huge in the United States. Paldi conducts two Islamic Finance, Banking, and Sukuk workshops in New Orleans and New York, USA in association with Al Huda Center of Islamic Banking and Economics and University of New Orleans. Paldi says that the USA participants were enthusiastic about learning Islamic finance concepts despite negative imagery in the media. Paldi explains that in general, educated Americans are excited to learn about new alternative financial structures and investment opportunities.

Islamic Microfinance an effective tool of Financial Inclusion

4th Global Islamic Microfinance Forum Logo Inaugurated in New York - USA
Islamic finance is the best suited system for poverty alleviation that can be utilized both by Muslims and non-Muslims as a system to cut down poverty dilemma from all over the world, it can also be utilized as an effective tool of financial inclusion as Millions of Muslims are financially excluded due to religious reasons, according to Muhammad Zubair Mughal, Chief Executive Officer, AlHuda Centre of Islamic Banking and Economics.

IMF launches Islamic finance consultations with External Advisory Group

The meeting discussions included the value proposition of Islamic finance; the level-playing field between Islamic and conventional finance; impediments to growth in profit-and-loss sharing financing; and the potential of the industry in fostering access to finance, notably for small- and medium-sized enterprises. But also more specific topics such as the appropriate regulatory and supervisory framework to preserve financial stability, how to adapt and implement Basel III requirements on capital and liquidity, strengthen risk management tools, and enhance Shar?`ah and corporate governance were discussed.

Lichtenstein plans push into Islamic finance

Competition is increasing among the world’s financial centers to grab a slice of Islamic finance, which is expanding beyond its traditional bases in southeast Asia and the Middle East. The focus is mostly on the booming market for sukuk (Islamic bonds). Luxembourg, Britain and Hong Kong are seeking to draw more issuance activity and have already made debut issues of sovereign sukuk this year. But Liechtenstein, is instead concentrating on wealth management through a coordinated effort by the public and private sectors.

Alternative Business Structure in East-London the first to specialise in Islamic finance

A Brit, a Pol and a Brazilian have come together to form a unique Alternative Business Structure and specialise in Islamic finance. Kawa, Guimaraes & Associates Solicitors, based in London’s Canary Wharf, offers services in immigration, family and employment, together with a limited amount of personal injury and medical negligence. Senior partner Mehedi Rahim, said the firm specialised in finding commercial solutions compliant with Islamic principles.

Gulf's growing private wealth needs more prudent handling

With the growing size of private wealth in the Gulf, maximizing the returns on this wealth is today's most pressing need and challenge. This has triggered fierce competition among wealth management firms. Private wealth management services delivered to high-net-worth investors include advice on the use of various estate planning vehicles, business-succession or stock-option planning, and occasional use of hedging derivatives for large blocks of stock. The recent report issued by Boston Consulting Group (BCG) titled "Global Wealth 2014: Riding a Wave of Growth" said private wealth in the region will reach $7.2 trillion by the end of 2018, approximately a 3.6 per cent share of total global wealth.

ADIB offers investors low-risk exposure to global sharia-compliant stocks

Abu Dhabi Islamic Bank (ADIB) is offering investors low-risk exposure to global sharia-compliant stocks through a new 100% capital-protected note that tracks the Dow Jones Islamic Market Titans 100 index. The launch of the note is part of ADIB's growing wealth management offering and helps investors in the region to diversify their portfolio. The Dow Jones Islamic Market Titans 100 Index, which includes the largest 100 sharia-compliant stocks traded globally, has given an annualized return of 6.01 percent over the last 10 years, and just over 21 percent in 2013. The note provides 100 percent capital protection at maturity to minimize risk for a minimum investment of US $30,000. The notes are open for subscription until 24th September 2014.

Securities Commission Malaysia: Biannual Newsletter - Islamic Wealth Management

Jan - June 2014 issue of the Malaysian ICM bulletin published by the Securities Commission Malaysia (SC) is now available online.

Islamic fund and wealth management is an integral component of Islamic financial system. This is attributed to the significant rise in income and wealth of certain Islamic countries over the last four decades as well as the emergence of Islamic finance as a viable alternative to conventional finance. The benefits of Islamic fund and wealth management cut across racial and religious boundaries as it not only benefit Muslims who wish to see their wealth preserved and enhanced within the Shariah framework, but also to non-Muslims who may view this from an ethical perspective of managing wealth.

Islamic Wealth Management As A Way Of Life

Islam itself encourages its adherents to be wealthy so that they can use their wealth to help others. A wealthy society has the means to make others wealthy too. The wealth gathering should continue not only for those who are still struggling to be rich, but also for people who are already wealthy because it is a prerequisite for a holistic success in this life and the hereafter. This process is called "wealth management". Unlike conventional wealth management, there are four stages in Islamic wealth management. These consist of wealth creation, accumulation, protection and distribution. This wealth management knowledge should be learnt early in life, especially so when the person has an income, although one is still far from being rich.

Middle East’s wealthy keen on business growth than wealth management

Growing their business remains the primary and dominant goal for high net worth business owners in the Middle East, according to a recent study on the wealth management needs and preferences of high net worth (HNW) business owners in Asia, Africa and the Middle East. The report by Standard Chartered Private Bank and Campden Wealth Research showed that 82 per cent of Middle East based high net worth business owners surveyed have already internationalised their businesses, implying the need for international banking services that support the geographic reach and growth of these businesses. Increasing market share is the top growth objective (82 per cent) of participants, followed by increasing production capacity (65 per cent) and international expansion (58 per cent).

Malaysia Plans To Be A Pioneer of Islamic Wealth Management

Malaysia hopes to be the first country in the world to introduce Islamic wealth management and champion new products under the Islamic financial system, said Deputy Finance Minister Datuk Ahmad Maslan. According to him, Islamic wealth management is an attractive sub-sector and promises good returns in the financial services industry. Ahmad said, to boost Malaysia’s aspiration to be the center of intellectual excellence in Islamic finance, the government stepped up efforts in that direction. The Islamic wealth management is expected to evolve to the next stage in the Islamic finance industry with the availability of infrastructure in terms of human resource development for the Islamic financial institutions and expertise that is existing today.

Moody's says: Malaysia's Sukuk market may grow 10 percent

A 10 percent growth in the Malaysian Sukuk market for this and next year is in line with the positive views on the long-term growth trends in the global Sukuk market according to Philipp Lotter, Moody's Managing Director for the Corporate Finance Group in ASEAN. Malaysia will remain the world's largest Sukuk market, says Khalid Howladar, Moody's Global Head for Islamic Finance. Singapore and Hong Kong are tapping into this fast-growing asset class although Saudi Arabia is showing strong domestic potential," adds Howladar.

Battle for Shar’ia Money

Such is the hype of activity about Shari’a-compliant product at the moment that even The Grand Duchy of Luxembourg has now moved a step closer towards the issuance of a debut sukuk. The government presented a draft bill to parliament that could get deal going, proposing the issuance of a €200m-equivalent sovereign sukuk denominated. Euros or US-Dollars, both are welcome. Additionally, the Luxembourg government has also identified three real estate assets to underpin the transaction.

New Lending Manager at Saffron Building Society

Richard Clare has been appointed as new Lending Manager at Saffron Building Society. He will take responsibility for assessment and preparation of mortgage cases as the underwriting capability.
Besides their rainge of Everyday and Special Situations Mortgages, Saffron Building Society will also consider more complex cases which are in need for bespoke lending solutions.
Richard Clare has more than 20 years of experience in financial services gained with organizations including UBS, Coutts, Ahli United Bank, United Trust Bank, Clayton Euro Risk, Pure Bridging Ltd, Rooftop Mortgages, SPML and Halifax plc. His considerable experience is as a senior lending manager.

10,000 Muslim Millionaires in Britain have different needs

Shari’a-compliant launches from UK based managers are growing steadily. The UK is at the forefront of Muslim investment. Even crowdfunding is becoming increasingly acceptable in the Arab world to raise capital for start-ups. But investments of any nature have to be Shari’a-compliant. Hereby Muslim communities from Bangladesh or Indonesia may differ from Arabs or Iranians. Some national governments, like Pakistan, insist on full Shari’a financing whereas others like Dubai or Bahrain have a less stringent approach to this. A lot of Shari’a money is completely untapped and is waiting on bank accounts. Most conventional products are not able to access this money due to non-Shari’a compliance.

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Worldwide study shows religious investors can ally faith and finance

Religious investors, in economic terms the third largest group to invest on the world’s stock markets, can post high placement profits and remain faithful to their religious creed. This is the message of the third biennial world report on religious investors, the only report of its kind.

The report highlights the profile of religious investors who respect this balance and thus can have a major influence on company ethics:
- Their principles of faith can serve as a road map for investment choices;
- By nature, these investors have a long-term view which is key to the notion of responsible investment;
- They can call on the support of what is often a worldwide community;
- They have set up networks that offer the chance to work together on stakeholder actions and therefore increase their impact.

Even though a certain number of religious organisations invest responsibly and use their role as shareholder-activists to promote change this sort of profile is far from the majority.

Bi-annual Bulletin on the Malaysian Islamic Capital Market by the Securities Commission Malaysia

Contents
Revised Shariah Screening Methodology: 1
Expands ICM’s Global Reach
SHARIAH
New Shariah Advisory Council Resolutions 3
DEVELOPMENT
Region’s First Structured Covered Sukuk 7
Royal Award for Islamic Finance Calls for Global 9
Nominations
SC and Autoriti Monetari Brunei to Strengthen 9
Efforts in Greater Cross-border Activities
SC Leads Islamic Finance Taskforce to Publish a 10
Report on Enhancing Infrastructure for ICM
REGULATORY
IFSB-IOSCO-SC Collaborate on Disclosure 11
Requirements for ICM Products
SC Revises Equity Guidelines for SPACS 12
Technical Note on the Application of SC’s 13
Guidelines In Relation to Non-Tradable and
Non-Transferable PDS and Sukuk
FEATURES
2013: Another Resilient Year for the Global 14
Islamic Finance Industry
Global Islamic Funds Industry: Achieving 18
Growth Under Challenging Times
Harmonisation of Shariah Rulings 22
in Islamic Finance
News Round-up 29
STATISTICAL UPDATES
Malaysian ICM – Facts and Figures 32
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