Hezbollah fires rocket barrages into Israel after deadly Beirut strikes    British man captured while fighting with Ukraine    Far-right candidate takes shock lead in Romania presidential election    Indians risk it all to chase the American Dream    Al Ittihad claims top spot in Saudi Pro League after victory over Al Fateh    Do cigarettes belong in a museum?    Saudi Arabia joins international partnership initiative to boost hydrogen economy    Riyadh Emir inaugurates International Conference on Conjoined Twins in Riyadh    Saudi delegation participates in the 7th U20 Deans Summit in Brazil    Al-Jubeir discusses with EU officials enhancing bilateral cooperation    GASTAT: Non-oil exports up 22.8% in September 2024    Saudi Arabia to host 28th Annual World Investment Conference in Riyadh    Saudi Arabia allows licensed flour milling companies to export flour    Al Khaleej stuns Al Hilal with 3-2 victory, ending 57-match unbeaten run    SFDA move to impose travel ban on workers of food outlets in the event of food poisoning    Al Okhdood halts Al Shabab's winning streak with a 1-1 draw in Saudi Pro League    Saudi musical marvels takes center stage in Tokyo's iconic opera hall    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Sitting too much linked to heart disease –– even if you work out    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



New insights on outlook of global Islamic finance to be unveiled
Published in The Saudi Gazette on 29 - 11 - 2015

MANAMA — The convener of the 22-year World Islamic Banking Conference (WIBC) — Middle East Global Advisors — is set to reveal cutting-edge insights on the outlook of the global Islamic financial industry in its inaugural "Finance Forward Islamic Finance Outlook Report 2016" this December.
The "Finance Forward Islamic Finance Outlook Report 2016" will be launched on Dec. 1 during the World Islamic Banking Conference in Bahrain. The three-day conference will cover various areas related to Islamic banking in the current global financial environment.
Speaking ahead of the presentation of the report — to be launched at WIBC itself — Dr. Sayd Farook, vice chairman and CEO of Middle East Global Advisors, shared: "The Outlook Report is expected to serve as a compass for Islamic Finance leaders who are undertaking key decisions that will fundamentally shape their business strategies for 2016."
The uniqueness of the report, he continued, is that it combines meaningful insights from Islamic finance leaders — gathered from an extensive survey of practitioners' sentiment — with robust analysis of the performance of Islamic financial institutions.
According to the report, three major global macro developments of 2015 will shape the outlook of the industry: commodity prices (particularly oil), development in global interest rate policy, and a slowdown of the Chinese economy. Low commodity prices do not bode well for either the Gulf Cooperation Council or Southeast Asian economies, home to most of the world's Islamic banks.
However, a positive outcome for Islamic banks in a ‘new normal' of low oil prices is that they enter with low rates of non-performing loans, high liquidity (in part due to the limited liquidity management options), high capital levels and simple balance sheets with mostly Tier 1 capital overall.
Thus, while the outlook for Islamic banks is likely to be muted going forward (and some may even face some fall-off in profitability), many leading Islamic banks have built up their resilience in the face of tightening liquidity, slowing loan growth and worsening credit risks.
Survey results of the Outlook Report highlighted two key trends: the development of ethical business models and that of Digital Banking.
Speaking about the importance of these trends, Blake Goud, chief research officer at Middle East Global Advisors added, "Shariah compliance is necessary but not sufficient for consumers demanding ethical financial services. This implies that corporate social responsibility is not enough — consumers want their financial institutions to integrate an ethical approach into their core business mode."


Clic here to read the story from its source.