Category: Islamic Finance
Al-Azhar in power-grab with Brotherhood over Egypt’s proposed sukuk law
- Published on Monday, 01 April 2013 07:47
- 1 Comment
Islamic banking assets grow faster than conventional banking assets
- Published on Thursday, 21 March 2013 08:45
- 0 Comments
Islamic banking assets with commercial banks in the GCC* reached $445 billion at the end of 2012, up from $390 billion in 2011, with the outlook for the industry remaining relatively positive in 2013. This represents a 14 percent year-on-year growth, which is considerably lower than the five-year average of 19 percent.
Money-laundering and other poor decisions put breaks on HSBC’s revenue growth, 5,000 more jobs might be cut
- Published on Wednesday, 20 March 2013 08:11
- 11 Comments
Though HSBC’s problems became clear only during the financial crisis, some of the problems were present well before 2008. Let’s start first with 2003. This was the year HSBC acquired Household International in the US. A well-known predatory lender, which had its run-ins with the law for its predatory practices. HSBC, a global bank by all standards, was merely a New York bank in the US, with a few branches in Miami and Los Angeles. The pressure was on senior management to make a significant acquisition in the US to enhance its footprint in the market.
UK triple-A downgrade brings sukuk issuance back in focus
- Published on Tuesday, 19 March 2013 08:37
- 4 Comments
Five years ago, the UK’s Treasury made headlines as it announced plans to be the first western government to issue sukuk. The plan had two objectives; first, to diversify the government’s funding base by attracting a new breed of investors, and second, to solidify the UK’s role as the center for Islamic finance.
Junk bond issuance hits new record, time for sukuk issuers to stay clear of this bubble
- Published on Sunday, 10 March 2013 11:36
- 5 Comments
Wall Street banks are selling junk bonds at a record pace — raising concerns they are selling debt that may be poised to lose value.
The banks spent more than $93 billion dealing with costs from the 2008 credit crisis, including lawsuits and fines for allegedly misleading investors about mortgage-backed products.
This time is different, bankers say.