Thursday, May 28, 2009

The Economist on GCC sukuk, first Canadian Shari'ah-compliant ETF planned

Canadian Islamic finance compaany UM Financial is partnering with Jovian Capital Corporation to explore the launch of a Shari'ah-compliant ETF. North America currently has a lack of investment products for Muslim investors. Although there are a few mutual funds, the landscape is currently dominated by Amana Funds which offers only two Islamic mutual funds. The greater development of Shari'ah-compliant ETFs would serve to expand the investment options available to Shari'ah-sensitive investors.

The Economist discusses the prospects for the Gulf bond and sukuk markets following the credit crisis and the first GCC-based sukuk default (The Investment Dar).

In a report for LSE's Kuwait Proramme on Development, Governance and Globalization in the Gulf States, Rodney Wilson points out the "the search for alternative means that Islamic banks are likely to receive more attention" in the wake of the credit crisis that originated in conventional financial institutions in the US.

Other News

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