Thomson Reuters

Thomson Reuters Announces Findings of Annual Sukuk Perceptions and Forecast Study

Thomson Reuters has released the findings of its second consecutive Sukuk Perceptions and Forecast Study. Overall, the study found that the potential demand and supply pipeline of sukuk is expected to grow. Despite this increase, demand is still expected to outstrip supply substantially until 2014, when it is predicted supply will begin to outpace supply. On the demand side, investors expect 50 percent of their portfolios to be allocated to Islamic finance investments, out of which 25% to 35%, would be allocated to sukuk. MENA investors overwhelmingly prefer USD sukuk. Oman is viewed as the most attractive emerging Islamic finance market for sukuk investment. The study will be launched at the Global Islamic Economy Summit on 25th & 26th November 2013 in Dubai.

GCC Islamic funds enjoyed the highest fund flows post financial crisis

According to Thomson Reuters Global Islamic Asset Management Report 2014, assets under management of GCC Islamic funds have been increasing, post global financial crisis and the 2011 political turmoil in the Arab world. However, assets under management (AUM) have been decreasing for the global Islamic fund industry. While Islamic funds globally have doubled since 2007, the AUM have marginally gone up in the last few years, and have in fact declined 1.7 per cent in 2013. Of the total $62 billion assets under management, Malaysia, Saudi Arabia Luxembourg comprise the top three Islamic fund hubs. The full report will be released next week at the Global Islamic Economy summit in Dubai.

Saudi Arabia identified as one of the most developed Islamic finance countries

According to Thomson Reuters' Islamic Finance Development Indicator (IFDI), Saudi Arabia has the second largest Islamic finance sector, after Malaysia, with Islamic finance assets in excess of $270 billion in 2012. Saudi Arabia was also in the top ten countries for educational infrastructure. Moreover, the kingdom performed well in terms of awareness and Sharia governance. However, it did not fare as well in terms of governance. Saudi Arabia has yet to introduce dedicated regulations for Islamic finance institutions and continues to score poorly in terms of financial disclosures compared to its peers. The IFDI was developed in collaboration with the Islamic Corporation for the Development of the Private Sector (ICD) and will be officially launched at the Global Islamic Economy Summit.

Entries to ADIB-Thomson Reuters ethical finance awards seek to balance returns with social purpose

The Ethical Finance and Innovation Challenge and Awards, sponsored by Abu Dhabi Islamic Bank (ADIB) and Thomson Reuters, have attracted over 100 entries. The awards, which address issues of ethics in finance and innovation in Islamic banking and offer prizes of up to $100,000, drew interest from individuals and institutions in 55 countries, with interest highest in the UAE, Pakistan, Malaysia, the United Kingdom and the United States. Winners will be announced in late November at the Global Islamic Economy Summit in Dubai. The Award rewards ideas or initiatives in financial services that deliver a sustainable positive impact on society or the environment. A Lifetime Achievement Award will be granted to an individual who has made a significant contribution and impact in the ethical practice of financial services.

Turkey's Islamic finance sector set for makeover -study

Turkey's Islamic finance industry is being reshaped as banks widen their product range and new competitors prepare to enter the market, according to a Thomson Reuters study. Promoting Islamic finance in Turkey is part of government plans to boost commercial ties with the Gulf and diversify the country's investor base. Last year Islamic banks reached a combined $36 billion in assets, representing a 5 percent share of total banking assets. The study estimates Islamic bank assets could reach between $80 billion and $120 billion by 2017. For this to occur, however, the industry will need to do more to educate customers. Moreover, banks and companies would also need to take advantage of new rules that facilitate issuance of various types of Islamic bonds.

Dubai Chamber, Thomson Reuters highlight Islamic Economy potential

Dubai Chamber of Commerce and Industry , in partnership with Thomson Reuters , organised the first roundtable discussion for media on 'What is the Islamic Economy?' as a prelude to the 'Global Islamic Economy Summit' taking place in Dubai on November 25 and 26, 2013. Dubai is already enjoying a high status for Islamic banking and is in the process of enhancing halal food industry, trade policies and commercial laws, and Islamic tourism among other sectors and this Summit will provide the impetus to the future growth of the Islamic Economy. The Summit's topics of discussion will include the six major pillars of the Islamic economy: Islamic Finance; Halal Food; Halal Lifestyle; Halal Travel; SME Development; and Islamic Economy Infrastructure.

Dubai Chamber to attract world Islamic business anchors

The Dubai Chamber of Commerce and Industry launched Anchor 100 Initiative to attract top world businesses to move to Dubai by highlighting the main 11 reasons to invest in Dubai. The reasons include low taxes and incentives, location and infrastructure, and qualified labor force. Besides, the Dubai Chamber together with Thomson Reuters will host the Global Islamic Economy Summit taking place in Dubai on November 25 and 26, 2013. According to Sayd Farook, Global Head of Islamic Finance at Thomson Reuters, there is still a huge untapped potential for Islamic Finance as 72 per cent of Muslims are non-banked. Growing further will need broadening the appeal of Islamic finance as well as targeting opportunities for growth in emerging Islamic markets.

Islamic Finance Industry Development Challenge

The shift in global banking is not a trend, and the challenge for all of us is to bridge the gap in financial practice and seize the opportunities that lie ahead, bringing ethics back into finance.

Thomson Reuters and Abu Dhabi Islamic Bank (ADIB) are partnering to launch the world’s first Ethical Finance Innovation Challenge and Awards (EFICA). In the dawn of a new economic world, these awards are designed to inspire and recognise a fresh way of thinking by promoting some of the most dynamic, innovative ideas and solutions around integrity and growth.

Thomson Reuters and ADIB launch global awards for ethical and Islamic finance innovation

Abu Dhabi Islamic Bank (ADIB), in partnership with Thomson Reuters, have launched global awards to recognize and reward innovation in ethical and Islamic finance. Presented in three categories: Islamic Finance Industry Development Award, Ethical Finance Initiative Award, and Lifetime achievement award; these awards are designed to inspire real change in the financial services industry by recognizing and rewarding innovation that can be put into practice. Entries will be accepted from any institution, research centre, group of individuals or individual interested in shaping the financial industry within an ethical framework, with prizes of up to US$100,000 offered. A short-list of nominees for three award categories will be announced in November this year.

Thomson Reuters Launch Islamic Finance Indicator With The Islamic Corporation For The Development Of The Private Sector

Thomson Reuters has launched an Islamic Finance Development Indicator in collaboration with the Islamic Corporation for the Development of the Private Sector (ICD), the private sector development arm of the Islamic Development Bank (IDB). The indicator is a numerical measure representing the overall health and growth of the Islamic finance industry worldwide. It measures five key components quantitative development, governance, social responsibility, knowledge and awareness. Therefore, the Islamic Finance Development Indicator is a unbiased and reliable multi-dimensional barometer of the development of the Islamic finance industry.

Thomson Reuters releases a guidebook on Islamic insurance

Thomson Reuters released a comprehensive guide to Islamic insurance titled "Takaful Primer 2013". The guidebook is authored by Dr. Omar Fisher who had earned a PhD. in Takaful through a combined graduate program of the International Islamic University of Malaysia and Camden University of Delaware in 2005. It features an introduction to Takaful system and its unique features. Furthermore, it includes current industry trends, worldwide statistics, and a perspective on the opportunities and challenges facing the Takaful industry. The guidebook contains an extensive glossary of terms in Arabic and English, together with a comprehensive directory of Takaful Operators globally.

Thomson Reuters to host forum on Oman as preferred destination for Sukuk

Thomson Reuters will be discussing Oman's leading position as a preferred investment destination for Sukuk during an upcoming forum set to take place on February 24, 2013. It will be investigated what needs to be done to facilitate the country's entry to global Islamic financial markets by Thomson Reuters with support from the General Council for Islamic Banks and Financial Institutions (CIBAFI) and Islamic Research and Training Institute (IRTI). Thought leaders, bankers, and Shariah scholars will discuss the opportunities of setting up Islamic financial markets operations in Oman, how to capitalize on the global Islamic financial markets interest, and explore prospects to develop a strong Islamic interbank and fixed income market.

Head of Research and Product Development Islamic Finance

The role is to manage all product development and research for Islamic Finance, implement the agreed strategy, launch new or updated products to market and take the lead on building relationships with the various stakeholders in the Islamic Finance space.


Sukuk issuance 'must be faster'

The time necessary to issue an Islamic bond is a crucial issue for the sukuk Islamic bank market. According to Rushdi Siddiqui, Thomson Reuters global head of Islamic finance, the Malaysian sukuk market is developed in such a way that quick issuance is possible. The region needs to follow this example. Siddiqui compared the sukuk market with the state of the eurobank market in the 1960s and 1970s. Consequently, the sukuk market has to move in a forward direction and raise efficiency.

Middle East M&A activity doubles to US$ 15.7 billion in first nine months of 2012

According to the investment banking analysis for the Middle East by Thomson Reuters for 2012 so far, M&A activity has reached US15.7 billion during this period. During the same period last year the activity was only half of this year's (US7.5 billion). Telecoms is said to be the most targeted industry in the Middle East. The leading country in activity are the United Arab Emirates.

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Thomson Reuters, Bloomberg both launch Sukuk market measures

At the Global Islamic Finance Forum (GIFF) 2012 in Kuala Lumpur the new Thomson Reuters Global Sukuk Index and the MYR-denominated Bloomberg AIBIM Bursa Malaysia Corporate Sukuk Index were brought into public. The Islamic finance industry demonstrates a growth of more than 15% a year, its leading area being the Islamic debt capital market, primarily constituted of Sukuk. According to Thomson Reuters, the Global Sukuk Index is likely to contribute to the increase in secondary market trading as well as to the facilitation of cross-market relative value trading among different asset classes.

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The sukuk wave ‘is going to get bigger’

Sukuk continues to attract interest among investors. Until now, $17.4bn have been raised in the form of 45 issues. This may look little compared with conventional credit markets. However, in Islamic banking, it is the highest issuance in the first half of the year since 2008. The sukuk wave is expected to become even bigger. Causes therefore are that the majority of sukuk investors are Islamic investors as well as that liquidity in the Middle East is driven by oil prices to a high extent. The situation is different in Malaysia, since the country is not an oil producer. The solution there is shaping the supply side to boost the market by regulation.

Islamic finance is unclear to many, perception continues that it’s still linked to terrorism

It seems that Islamic finance is still misunderstood by some people. Some think that Islamic finance is related to terrorist financial activity.
Rushdi Siddiqui, Global Head of Islamic Finance at Thomson Reuters, the $1 trillion sector has done a bad job in educating the people about what Islmic finance really means. He added that the industry has failed to promote what Islamic finance is, from a PR and a marketing point of view.

Thomson Reuters unveils risk management solution for Islamic Banking

Thomson Reuters announced the launch of a risk management system specifically tailored for Islamic banking.

Kondor+ Suite for Islamic Banking is a real time trade and risk management solution, which will provide full front-to-back and cross-asset coverage for Islamic banks as well as Islamic windows in conventional banks.

Reuters Plans Islamic Finance Portal

The international financial services information company Thompson Reuters is planning to launch a news portal covering information about the Islamic financial industry in early 2010.

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