Malaysia International Islamic Financial Centre

#Malaysia remains lead in Islamic finance

Malaysia has great potential to broaden its market share and strengthen its leadership in Islamic finance. According to the latest report by the Malaysia International Islamic Financial Centre, Asia’s Islamic financial assets amounted to US$528.7 billion (RM2.05 trillion), or 26% of the world’s Shariah-compliant financial assets as at end-2017. Malaysia continued to be the main driver for both sukuk outstanding and issuance for the year, with a market share of 51% and 36.2% respectively as at end-2017. The country also led in the Islamic wealth management industry with US$28.3 billion (36.5% global share). It also ranked first in terms of number of funds with a total of 394 funds and 27.9% global share, followed by Pakistan with 147 funds and Indonesia with 143. In the banking sector, Malaysia ranked third globally after Iran and Saudi Arabia with a total Islamic banking assets of US$204.4 billion as at end-2017.

Islamic Finance in Africa: Unlocking opportunities for growth

A newly released report "Islamic Finance in Africa: Unlocking Opportunities for Growth" studies the evolution of the Islamic finance industry in Africa. Moreover, the report, a joint publication by Kuwait Finance House Research Limited (KFHR) and Malaysia International Islamic Financial Centre (MIFC), highlights the exciting growth prospects for the various Islamic finance segments on the continent. Africa's presence in the global Islamic finance landscape is growing, albeit from a small base. The sukuk market in Africa holds great potential over the medium-run, amid unprecedented funding needs for infrastructure building. Aside from the sukuk market, Africa's Islamic funds markets holds potential in the medium-run. The Islamic banking sector has recorded solid growth, and demand for takaful products in Africa islikely to increase.

Dallah Albaraka founder gets award

Dallah Albaraka Group chairman and founder Shaikh Saleh Abdullah Kamel has been awarded the 2010 Royal Award for Islamic Finance.
Shaikh Saleh was awarded the accolade for his visinary drive, extraordinary leadership and personal commitment in spurring global accessibility of Islamic finance.
The Royal Award is spearheaded by the Malaysia International Islamic Financial Centre and supported by Bank Negara and the Securities Commission.
The seven-member jury comprises eminent individuals, syariah scholars, academicians and Islamic finance practitioners from Asia, Europe, the Middle East and the United States.

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