DOCSLIB.ORG

Islamic Finance in the UK: A

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Islamic Finance in the UK: A The World’s Leading Islamic Finance News Provider 12th March 2014 (All Cap) 1100 Islamic finance in the UK: A 1075 period of transition 0.46% 1050 1,045.56 Islamic fi nance in the UK is already an an unrivalled pool of international talent established industry, ranking as the ninth and capital. London has the leading share 1,046.89 largest center for Islamic fi nance in the of trading in many international fi nancial 1025 world, according to the latest data from the markets including foreign exchange and UK Islamic Finance Secretariat. However, OTC derivatives trading, international 1000 despite government support and a strong bank lending and international insurance. T W T F S S M overseas investor base, the domestic London and the wider UK are also Europe’s Powered by: IdealRatings® banking sector remains small. As the UK premier center for the management of makes a serious push for 2014, we talk to sovereign wealth funds, hedge funds and Volume 11 Issue 10 the key players leading this transition to private wealth. IFN Rapids .........................................................2 fi nd out what the UK needs to turn it from Islamic Finance news .........................................7 a duckling to a swan. The London Stock Exchange (LSE) is Shariah Pronouncement .................................15 already a key global venue for Islamic IFN Reports: The Lord Mayor of London, Fiona Woolf, issuance, with more Sukuk listed than Islamic finance in Germany: Not why, but has been making a tour of the Middle East any other global exchange. To date over when; Kenya to establish separate regulatory this month; with Islamic fi nance one of the US$34 billion has been raised through 49 framework for Islamic finance; The future key issues on her agenda. Islamic Finance issues, while seven exchange-traded funds lies with boutique banks; Trade finance tops news caught up with her to discuss the city's and two exchange-traded products are the list as an attractive alternative to money ambitions for the industry in the UK. also quoted on the exchange. “London is markets; Islamic funds in Pakistan continue specifi cally targeting cross-border fl ows, to deliver; The size of the Islamic market: A “The UK is the leading non-Muslim helped by its scale as a fi nancial center and country and Europe’s premier center for its internationally recognized legal system,” continued uncertainty .............................. 16 Islamic fi nance, with US$19.5 billion of confi rms the Lord Mayor. Case Study: World’s fi rst Basel III Tier 2 Sukuk: reported assets; and we expect this market AmIslamic Bank .................................................24 to continue to grow exponentially,” she City strength confi rms. “The whole country is committ ed Country Focus: Indonesia London has also benefi ted from consistent to expanding the role of Islamic fi nance as support from the UK government to IFN Analysis: Islamic fi nance in Indonesia .... 22 an investment alternative in the UK. We see Feature: The Indonesian Financial Service develop a competitive fi scal and regulatory Islamic fi nance as a growing component of framework for Islamic fi nance: including Authority (FSA): A new hope to boost the London’s role as a world leading fi nancial removing double tax on Islamic mortgages performance of Islamic fi nance .....................29 center.” and extending tax relief to Islamic fi rms and individuals; and reforming bond issuance Sector Focus: Real Estate A thriving market rules to treat returns and income payments IFN Analysis: The continuing appeal of real The UK currently has 22 Islamic banks of as equivalent to interest, making London estate investment in Islamic fi nance ..................23 which fi ve are fully Shariah compliant, more competitive for issuing and trading Feature: Real estate: The gateway to along with around 25 law fi rms Sukuk. Islamic finance in India? ......................... 31 supplying Islamic fi nance services. Special Feature: Continuous support “This is substantially more than in This has done much to consolidate for the development of Islamic finance in any other western country,” points the city’s position as a leading Islamic Luxembourg ............................................. 33 out Woolf. “Our intention is to fi nancial center. Humphrey Percy, remain the leading western center.” CEO of Bank of London and The IFN Country Correspondents: According to the Lord Mayor, Middle East (BLME), one of the biggest Bangladesh; Turkey; Iran; US ................. 25 activity in the UK Islamic and most profi table fully-fl edged IFN Sector Correspondents: sector has risen by around Real Estate ............................................... 28 150% since 2007, buoyed by continued on page 3 Deal Tracker .....................................................34 REDmoney Indexes ........................................35 Eurekahedge data ...........................................37 Performance League Tables ...........................39 Events Diary.....................................................43 Follow us on Company Index ...............................................44 Subscription Form ...........................................44 www.islamicfi nancenews.com IFN RAPIDS ICD and Al Ajial Funds sign as primary dealer for IILM’s market still not fully refl ecting DEALS MoU to co-invest in potential Sukuk program to enhance reinsurance premiums, Syarikat Prasarana Negara projects within Morocco’s secondary market according to Moody’s private sector launches US$610.5 million Despite strong growth Takaful has signifi cant dual-tranche Sukuk The potential of Islamic momentum and 10% market potential to grow in Turkey The IDB poised to join banking in Indonesia is based share, Islamic banking has yet according to EY report on public demand according to reach its full potential in the ranks of IILM as a Doha Insurance off ering a to Indonesian Islamic Pakistan, says federal minister multinational institution to total of 24.26 million new Banking Association member for fi nance issue short-term Islamic debt shares to shareholders on the Total Sukuk issuances reach Bank Rakyat makes Zakat 17th March US$9.07 for the fi rst two contribution to schools in months of 2014 according to conjunction with the opening th ASSET KFH Research of its 145 branch RATINGS TuranBank signs fi ft h Profi t payments due on MANAGEMENT Alam Maritim Resources’ agreement with the ICD Tanjung Bin Energy Issuer’s Mashreq converts Islamic facilities receive stable ratifying a fi ve-year US$5 US$1.37 billion Sukuk conventional MENA fund into outlook on their ‘A+IS’ and million fi nancing facility Indonesia’s record Sukuk sale a Shariah compliant vehicle ‘MARC-2ID/A+ID’ ratings Turkey wants to make itself from MARC helps reduce supply pressure i-Vcap Management looks to the premier Islamic fi nancial and borrowing costs list sophomore Islamic ETF on Moody’s maintains negative center in Western and Eastern the 21st March outlook on Pakistan’s banking Fawas Abdulaziz Alhokair Europe, and in MENA, system due to challenging Co plans to join Islamic affi rms Borsa Istanbul CEO Malaysia’s Employees operating conditions and high capital market with debut Provident Fund looking to Sumitomo Mitsui Banking bank exposure to government Sukuk off ering next fi nancial establish state-backed fully Corporation commences securities year Shariah compliant pension Islamic fi nance services in fund Fitch upgrades rating for Second tranche of LBS Bina Malaysia Saudi Arabia to ‘AA’ with a Group Sukuk to be fully Amanah Mutual confi dent of th Islamic fi nancial solutions are stable outlook redeemed on the 14 March at least 13% cumulative return more suited to fund Pakistan’s on recently-launched Shariah FGB to auction US$1.07 potential projects in energy, compliant fund billion Sukuk Wakalah health, food, pharmaceutical MOVES program in Malaysia and housing, says AAOIFI Lahore Stock Exchange Masraf Al Rayan board chairman of trustee board approves listing of NAFA of directors re-elects bank Islamic Principal Protected chairman, Dr Hussain Ali Al NEWS Association of Islamic Fund Abdulla Separate regulatory Banking Institutions framework for Kenyan Islamic Malaysia jointly organizes Abu Dhabi Islamic Bank NCB Capital to name Sarah fi nancial institutions to be roadshows with the central expands wealth management Al Suhaimi as new CEO bank to promote online off ering with capital-protected introduced in coming weeks, Former vice-governor of banking services notes investing in smartphone confi rms Capital Market Saudi Arabian Monetary manufacturing Authority Bangsamoro in need of Agency to head Arab Seeking a foreign partner for Islamic banking services and Monetary Fund as director Islamic subsidiary may be private sector involvement, TAKAFUL general and board chairman says chair of Bangsamoro in the cards for Att ij ariwafa MetLife AIG ANB Amr Al Jallal joins Jadwa Development Authority Bank as part of its strategy to Cooperative Insurance Investment following boost its Islamic operations Union of Small and Company receives resignation from Saudi EFG-Hermes offl oads 19% Medium Enterprises authorization by Saudi Fransi Capital as senior stake in Damas Interntional recommends Islamic fi nance regulator to conduct insurance vice-president of investment for US$150 million for the promotion of SMEs in business in the kingdom banking Pakistan Central bank governor Al Madina Takaful GFH Capital appoints Jinesh publicly comments that Islamic fi nance create stronger recommends a distribution of Patel as senior executive Mauritius does
Load more

Recommended publications
  • Breaking the Mold: Female Investors Making Waves
    The World’s Leading Islamic Finance News Provider (All Cap) IDB and Nigeria looks Jordan SECP boosts 1100 World Bank west for acquires best NBFC segment 1050 2.92% sign US$9 Islamic fi nance practices with updated 1000 billion inspiration..7 for maiden rules; creates 921.97 950 strategic Sukuk...8 new asset 949.77 900 partnership classes...12 TMSSFTW Powered by: IdealRatings® deal...6 COVER STORY 21st October 2015 (Volume 12 Issue 42) Breaking the mold: Female investors making waves The role of women in the Gulf is Women in the GCC now control over a awareness and understanding are changing — or is it just the perception third of wealth in the region, and are a opening doors to a more proactive of the role of women? It’s a delicate driving force for the economy. Markaz involvement in personal wealth subject but there is no doubt that estimated in 2013 that GCC high-net- management and investment activity. with the advent of bett er education worth (HNW) females controlled over and employment opportunities, US$224 billion and accounted for over Women in the workforce and as major players in the fi elds of 20% of total wealth in the region — and The labor trend in the GCC is changing, family wealth, entrepreneurship and these fi gures have soared in the last few with female participation more than business, Muslim women are becoming years. Around 105 ultra HNW women in doubling over the past few decades. a force to be reckoned with from an Saudi Arabia and the UAE now control In Dubai and Qatar, the female labor investment perspective.
    [Show full text]
  • Iraq: a Nation on the Edge
    The World’s Leading Islamic Finance News Provider 18th June 2014 (All Cap) 1100 Iraq: A nation on the edge Although the ongoing confl ict in Iraq has in oil reserves according to global fund 1075 been an inevitable impediment to the manager FMG. 1,056.41 development of its fi nancial markets, in 1050 1,054.34 recent years a surprisingly strong macro 0.19% Banking strength environment has driven impressive Iraq has a huge banking sector, which still 1025 growth in the banking sector, while dominates its fi nancial system – despite renewed interest from foreign investors losing more than half its value between has highlighted its exceptional potential. 1000 2010-11 after the withdrawal of US forces. W T F S S M T Yet the catastrophic events of the past In 2012 total assets of the banking system few days have placed all this in jeopardy, Powered by: IdealRatings® amounted to IDR130 trillion (US$116 as the country balances on the brink of billion) – less than half of the IDR340 trillion Volume 11 Issue 24 civil war and radical forces threaten to (US$304 billion) it was worth in 2010. overwhelm its fragile government. In this However, recent analysis suggests renewed IFN Rapids .........................................................2 atmosphere of uncertainty we take a look Islamic Finance news .........................................6 growth prospects for the country’s fi nancial Column: Daud speaks .......................................15 at all that is positive about its prospects – system on the back of the sustained Shariah Pronouncement
    [Show full text]
  • GFH Financial Group BSC CONSOLIDATED
    GFH Financial Group BSC CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2020 Commercial registration : 44136 (registered with Central Bank of Bahrain as an Islamic wholesale Bank) Registered Office : Bahrain Financial Harbour Office: 2901, 29th Floor Building 1398, East Tower Block: 346, Road: 4626 Manama, Kingdom of Bahrain Telephone +973 17538538 Directors : Jassim Al Seddiqi, Chairman H.E. Shaikh Ahmed Bin Khalifa Al-Khalifa, Vice Chairman Hisham Ahmed Alrayes Rashid Nasser Al Kaabi Mustafa Kheriba (till 24 December 2020) Ghazi Faisal Ebrahim Alhajeri Ali Murad (from 9 April 2020) Ahmed Abdulhamid AlAhmadi (from 9 April 2020) Alia Al Falasi (from 30 September 2020) Fawaz Talal Al Tamimi (from 30 September 2020) Amro Saad Omar Al Menhali (till 30 September 2020) Mazen Bin Mohammed Al Saeed (till 31 March 2020) Mosabah Saif Al Mautairy (till 30 September 2020) Bashar Mohamed Al Mutawa (till 1 April 2020) Edris Mohammed Rafi Alrafi (from 24 December 2020) Chief Executive Officer : Hisham Ahmed Alrayes Auditors : KPMG Fakhro GFH Financial Group BSC CONSOLIDATED FINANCIAL STATEMENTS for the year ended 31 December 2020 CONTENTS Page Chairman’s report 1-3 Report of the Shari’a Supervisory Board 4-5 Independent auditors’ report to the shareholders 6-11 Consolidated financial statements Consolidated statement of financial position 12 Consolidated income statement 13 Consolidated statement of changes in owners’ equity 14-15 Consolidated statement of cash flows 16 Consolidated statement of changes in restricted investment accounts 17 Consolidated statement of sources and uses of zakah and charity fund 18 Notes to the consolidated financial statements 19-100 Supplementary information (not audited) 101-103 Chairman’s Report-2020 Dear Shareholders, On behalf of the Board of Directors of GFH Financial Group, I am pleased to present the Group’s financial results for the fiscal year ended 31 December 2020.
    [Show full text]
  • Philip Dowsett
    Philip Dowsett Partner Dubai | 804 South Tower, Emirates Financial Tower, Al Sukook Road, DIFC, PO Box 506675, Dubai, United Arab Emirates T +971 4 425 6333 | F +971 4 425 6301 [email protected] Services Mergers and Acquisitions > Private Equity > Corporate > Investment Funds: Middle East > Emerging Markets > Strategic Transactions > Philip Dowsett focuses on complex cross-border mergers and acquisitions, private equity and venture capital matters. Mr. Dowsett also advises on takeovers, divestitures, joint ventures and corporate finance transactions in the Middle East, United Kingdom, Europe and the United States. His practice includes fund formation, fund governance and investment management matters. Mr. Dowsett’s clients include regional and international investors; private equity and venture capital firms; family offices; and sovereign wealth funds and corporates. His clients come from a range of industries, such as energy, healthcare, media and technology, infrastructure, retail and finance. Chambers Global 2020 and 2019 ranks Mr. Dowsett for Corporate/M&A and Investment Funds in the Middle East. Clients describe him as “fantastic”, “very personable” with “a strong positive attitude towards getting a deal done.” He is commended for “his ability to understand the client's objectives and provide solutions which are aligned to them”. Mr. Dowsett is also ranked in The Legal 500 EMEA 2020 and 2019 for Commercial, Corporate and M&A and Investment Funds noting that he is “fast, bright, knowledgeable of commercial matters and makes things happen.” Prior to joining Dechert, Mr. Dowsett was a partner at another global law firm in Dubai. He has previously worked in London and Hong Kong, and completed a secondment at one the largest sovereign wealth funds in the Middle East.
    [Show full text]
  • MENA Private Equity and Venture Capital Report
    MENA Private Equity and Venture Capital Report 2014 2 MENA Private Equity and Venture Capital Report 3 MENA Private Equity and Venture Capital Report Foreword With Gratitude Dear friends and colleagues, and networks, and who benefit from the The MENA Private Equity Association Media Task Force experience of investing through economic I am honoured to introduce the 9th edition We are grateful for the public relations and media cycles and periods of political volatility. Extends its sincere appreciation to Zawya for sharing campaign support from the following: of the “Private Equity & Venture Capital primary data and industry and to our knowledge in the Middle East Report”, a publication Bringing such seasoned professionals partners Deloitte for developing the report analysis. Nahed Ashour, Senior Manager Arabic Content and that has become a leading barometer of together; the MENA Private Equity Media, Capital MSL our industry and, indeed, of the region’s Association gives the industry a strong and economic development. clear collective voice, and acts as a link to similar associations around the world. In the decade since the report began, private Deloitte Sponsors equity has established a strong foothold, Compiling this report is an important part of Declan Hayes, Managing Director, Deloitte Corporate weathered a global economic crisis, and the association’s work, serving to promote Finance Limited Without the support of the following generous emerged stronger. It is clear that although greater transparency in the industry and to sponsors, this report would not have been global perceptions may be clouded by news enhance knowledge of the impact of private Sam Surrey, Director, Deloitte Corporate Finance possible.
    [Show full text]
  • Investment Outlook
    Investment Outlook United States | Q1 2016 WHAT TO KNOW JLL | United States | Investment Outlook | Q1 2016 2 WHAT YOU The effects of recent capital markets volatility on transactions is being WILL FIND felt in early 2016, and the sheer bumpiness of this volatility is further reflected in shifts throughout the quarter itself across global financial WHERE and real estate capital markets. What started with elevated VIX levels, TO FIND IT atypical downward S&P trending with crude oil pricing and a broad lack of consensus around Federal Reserve policy has since shifted into VIX index declines by less than half the quarter’s peak. Regardless of what some believe to be newfound, near-term stability, current pricing levels, 4 Top 7 investment themes cycle longevity concerns and a heightened sensitivity to risk have brought volatility into the real estate capital markets, driving an 11.2 11 Office 12 Overview percent decline in first-quarter volumes with early cautionary sentiment 13 Key investment themes 18 Notable transactions expected to impact second-quarter volumes. However, strong property fundamentals, a robust and historic level of active capital and alleviated 19 Industrial 20 Overview investor angst is expected to drive flat to moderate declines in activity 21 Key investment themes 25 Notable transactions at year-end. Despite volume declines, pricing dynamics broadly remain 26 Multifamily resilient, with spread levels healthy and cap rates compressing 31 Overview 27 basis points on average over the last 12 months across sectors. With 28 Key investment themes Notable transactions 32 the latter stages of the cycle, the risk of macro or sector pressures 33 Retail impacting markets naturally increases.
    [Show full text]
  • Annual Report
    Annual Report GFH Financial Group Profile Group GFH Financial Achievement of A History and Values Vision Platforms Unique Investment Four Directors of Board Sharia Supervisory Board Management Executive Highlights Financial Report Chairman’s CEO Group Message from Business Activities Report Management Executive and Capital Markets Treasury Governance Corporate Risk & Capital Management His Royal Highness His Majesty His Royal Highness Prince Khalifa bin Salman Al Khalifa King Hamad bin Isa Al Khalifa Prince Salman bin Hamad Al Khalifa The Prime Minister of the The King of the The Crown Prince, First Deputy Prime Kingdom of Bahrain Kingdom of Bahrain Minister & Deputy Supreme Commander 06 08 12 14 36 44 46 64 68 72 74 76 80 82 104 Kingdom of Bahrain 2019 marked our twentieth anniversary. We have been witness to phenomenal changes in our business, our Kingdom and across the globe. We are blessed to have weathered many storms and thanks to God, we are fitter, stronger and more capable than ever before. Driven by a clear vision and armed with a pragmatic yet adventurous strategy, we are ready to take on the next challenge, the next year and the next decade. In this foundational report, you can relive our past twenty years, our last financial year and come to understand how our new platforms are setting us up for the next phase of growth. We hope you find our twenty-year annual review as interesting to read as we found it to create - year by year. Two Decades Countless Highlights Since the Group’s inception in 1999, GFH has raised over US$10 billion exclusively on the energy sector.
    [Show full text]
  • Important Notice the Attached Admission Particulars (The Document) May Only Be Distributed to Persons Who Are Not U.S
    IMPORTANT NOTICE THE ATTACHED ADMISSION PARTICULARS (THE DOCUMENT) MAY ONLY BE DISTRIBUTED TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S UNDER THE SECURITIES ACT (AS DEFINED BELOW)) AND ARE OUTSIDE THE UNITED STATES. IMPORTANT: You must read the following disclaimer before continuing. The following disclaimer applies to the Document, whether received by email, accessed from an internet page or otherwise received as a result of electronic communication, and you are therefore advised to read this carefully before reading, accessing or making any other use of the Document. In reading, accessing or making any other use of the Document, you agree to be bound by the following terms and conditions and each of the restrictions set out in the Document, including any modifications made to them from time to time, each time you receive any information from the Trustee, the Bank or the Manager (each as defined below) as a result of such access. You acknowledge that this electronic transmission and the delivery of the Document is confidential and intended only for you and you agree you will not reproduce or publish this electronic transmission or forward the Document to any other person. RESTRICTIONS: UNDER NO CIRCUMSTANCES SHALL THE DOCUMENT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THE SECURITIES DESCRIBED HEREIN (THE "SECURITIES") IN THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL. RECIPIENTS OF THE DOCUMENT WHO INTEND TO PURCHASE THE SECURITIES ARE REMINDED THAT ANY PURCHASE MAY ONLY BE MADE ON THE BASIS OF THE INFORMATION CONTAINED IN THE DOCUMENT.
    [Show full text]
  • Quantum Solar: What Happens When Green Sukuk Falter?
    The World’s Leading Islamic Finance News Provider (All Cap) 1300 South Africa’s Two years Mining Astana electricity post-Sukuk blockchain International 1250 1,218.93 1200 1,214.98 provider looks test, Russia is potential: Financial Centre 1150 at domestic and ready to debut Iran turns to works on -0.32% 1100 international Sukuk...7 technopreneurs...7 Islamic Finance W T F S S M T Sukuk...5 Master Plan...8 Powered by: IdealRatings® COVER STORY 24th July 2019 (Volume 16 Issue 29) Quantum Solar: What happens when green Sukuk falter? The RM1 billion (US$243.4 million) a total project cost of around RM1.24 immediate impact” from the delay due green Sukuk issuance from Quantum billion (US$301.8 million, funded on an to the project’s suffi cient cash buff ers Solar Park Malaysia (QSP) was the 80:20 Sukuk to equity basis), the 150 MW and sponsor support, with any project biggest green SRI issuance out of project made QSP the largest solar power cost overruns paid by the sponsors Malaysia. Launched to a fanfare of producer in Malaysia — and Malaysia from a RM50 million (US$12.15 million) praise in June 2017 — and shortlisted one of the biggest producers in ASEAN. contingency equity facility backed by a for the IFN Deal of the Year — the bank guarantee. Pre-funding under the transaction was a milestone in Given a preliminary rating of ‘AA-IS’ Sukuk enabled the fi rst profi t payment Malaysia’s debt capital market, paving with a stable outlook by the Malaysian to be made on the 6th April 2018, and the the way for a host of other corporate Rating Corporation (MARC), the project fi nancial service reserve was also met for issuers to ‘go green’.
    [Show full text]
  • Zephyr Annual M&A Report
    Zephyr Annual M&A Report Global, 2014 Zephyr Annual M&A Report Global, 2014 The following report details Global M&A advances in 2014 Global deals by volume and value mergers and acquisitions Global mergers and acquisitions (M&A) rose in Total deal activity in 2014 using data from 2014 to the highest recorded since before 2008. Announced date No of deals value In total there were 82,354 deals worth a combined (mil USD) the Zephyr database. USD 4,708 billion. 2014 82,354 4,707,911 It focuses on deal activity by target company. An improvement in M&A value was recorded for 2013 79,742 3,650,853 most regions, with Central and Eastern Europe 2012 74,375 3,244,785 Click here to access the raw data in an Excel being the only exception. 2011 73,986 3,412,107 spreadsheet. The volume of M&A targeting companies based 2010 73,793 3,414,912 in the Middle East and Western Europe was down 2009 74,974 3,780,060 year-on-year against an increase in value. Section 1: Global Deals Page 1 Given the overall global results, it is not surprising Section 2: Western Europe Page 16 the value of M&A targeting individual countries Section 3: North America Page 27 rose year-on-year, including all the top four countries by value, namely US, China, UK and Section 4: Asia/Asia Pacific Page 37 Canada. However, the value of dealmaking Section 5: Middle East Page 51 targeting companies based in Russia and Japan slipped 30 per cent and 8 per cent to USD Section 6: Russia/CEE Page 64 132,474 million and USD 124,556 million, respectively.
    [Show full text]
  • Annual Report 2010
    Annual Report 2010 Contents Gulf Finance House Profile 5 Board of Directors 7-9 Sharia’a Supervisory Board 10-11 Executive Managment 12-16 Cherman’s Report 19-21 Business Activities 22-25 Management Report 26-29 Corporate Governance 30-33 Consolidated Financial statement 34-88 Risk and Capital Management 90-117 GULF FINANCE HOUSE GULF FINANCE HOUSE 2 ANNUAL REPORT 2010 ANNUAL REPORT 2010 3 Gulf Finance House (GFH) Profile Since its foundation in 1999, Gulf Finance House (GFH) has estab- lished itself as one of the world’s most innovative Islamic investment banks. For more than a decade now, GFH has been unlocking value in some of the world’s most dynamic emerging economies. Its strategy is based on identifying and delivering investment opportunities in the Islamic financial services and infrastructure sectors of the Middle East, The Levant, North Africa and Asia. This has seen GFH raise funding of more than US$5 billion to invest in Islamic financial institutions and infrastructure projects harnessing the enormous potential offered by the region’s dynamic economies. What sets GFH apart is its long track record and specialization in creating new financial institutions and the conception of high value economic infrastructure projects. GFH has established some of the region’s leading financial institutions including First Energy Bank, the world’s first Islamic investment bank focused exclusively on the energy sector. Other financial institutions founded by GFH include Khaleeji Commercial Bank in Bahrain, QInvest in Qatar, Arab Finance House in Lebanon, First Leasing Bank in Bahrain and Asia Finance Bank in Malaysia.
    [Show full text]
  • Deals of the Year 2013: Results
    The World’s Leading Islamic Finance News Provider 8th January 2014 (All Cap) 1050 Deals of the Year 2013: Results 1,020.19 the Islamic fi nancial market players are 1025 adapting. As always, the Islamic syndicated 1,029.27 fi nance market fi lled gaps that the Sukuk 1000 0.89% markets were not able to cover. A number of private equity, corporate fi nance and real estate equity deals also drew att ention. 975 In all, you nominated nearly 400 deals 950 (a 33% increase over 2012) in over 30 T F S S M T 2013 categories (a 20% increase over 2012). The Powered by: IdealRatings® Some bankers and analysts were 2013 Deal of the Year competition soared Volume 11 Issue 1 disappointed that 2013 brought a less past the record set in 2012. robust performance in the Sukuk sector IFN Rapids .........................................................2 than 2012’s record-sett ing year. However, Although 2013 showed more execution Islamic Finance news .......................................23 the leading markets continued to cement of well-tested ideas than innovation and Shariah Pronouncement .................................39 their strong performance, while new despite local political unrest in several key players also emerged on the scene to IFN Reports: countries and global markets as well as demonstrate the ever-widening global the dismay over tapering, 2013 remained a Malaysian Sukuk outlook positive for 2014: scope of the Islamic capital market. good year for the Islamic capital markets. Corporates to drive growth; Maxis’ proposed Sukuk receives preliminary ratings; Cross- The UAE re-emerged as a leading center for The top nominees for Deal of the Year Sukuk issuance in 2013.
    [Show full text]