Moody's predicts that Islamic banks' assets will grow at a slower rate of 10-15% because of the global economic slowdown but will remain resiliant because depositors look at Islamic banks as focusing more on their role as an intermediary between savers and borrowers. Another article describes the UK Islamic finance market and the resiliency of the industry in the face of a severe economic crisis.
The Islamic finance media industry has seen good times recently.
Despite the announcement in the pre-budget report that the UK was not going to announce the imminent issue of its first sukuk, hopes for a sukuk are still alive. The UK Islamic Finance Experts Group (IFEG) met yesterday and HM Treasury is expected to release a consultation report on Islamic finance in January 2009.
The Islamic finance industry in Brunei is pushing the government to begin issuing longer maturity sukuk. While the country does not need to issue debt because of its large oil reserves, it began issuing sukuk in April 2006 with the aim of promoting the Islamic finance industry. New regulations of Islamic finance and takaful are coming into effect in the country.
Islamic finance expanding globally, including Brazil.
Are we all Islamic bankers now? Does the writer understand the difference between Islamic finance and zero interest loans?