Breaking the Mold: Female Investors Making Waves

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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. LAUREN over US$22 billion alone: while Al workforce has more than tripled since MCAUGHTRY asks what fi nancial Masah Capital estimates that personal 2003 to 47% and 51% respectively institutions are doing to leverage this wealth owned by women in the Gulf (compared to 20% in Saudi Arabia and new powerhouse. tops US$690 billion. With annual growth 29% in Oman). Business is the preferred of over 8%, this could reach almost US$1 fi eld, with 33% of female higher Improving the odds trillion by 2017. education students enrolling in the fi eld: “Women are proving to be a key while according to SAIS Global Women driving force for the GCC economic Higher education access is a key driver in Leadership fi gures, one out of every engine,” claims Al Masah Capital in of this, with the female enrollment four start-ups in the Middle East is its latest report on the opportunities rate for universities now exceeding founded by women. for women in the region. “Women that of men. While women still in GCC countries are believed make up just 29% of the GCC Even in the most conservative of by some in the international workforce (compared to societies the role of women is starting to community to be submissive 40% of the population), take on greater prominence — in 2013 and restricted, with litt le powerful female for example, the late King Abdullah or no role to play in the fi gures in the worlds of Saudi Arabia appointed 30 women socioeconomic development of entrepreneurship, to the Shura Council, while in 2012 of the region. Defying business and politics the UAE made it compulsory for all this popular belief, GCC are paving the corporations and government agencies women are now actively way for greater to include women on their boards of participating in the social, participation, directors. Fourteen per cent of senior political, cultural, and while for management roles in the UAE are now economic aspects of their inherited wealth held by women (according to a recent bett er education, respective societies,” it notes. continued on page 3 The World’s Leading Islamic Finance News Provider Islamic Project Financing: A New Path th IFN Dubai Economic Seminar 26 October 2015, DIFC Centre of Excellence Sponsored by: Islamic Trade Financing: Connecting the World 2015 Series 27th October 2015, DIFC Centre of Excellence LLeaad partnersppartners PartnerPartner Sponsored by: IFN RAPIDS Volume 12 Issue 42 million (US$26.36 million) marine insurance policy for DEALS Islamic facility Cairo Metro Project IFN Rapids ................................................... ..2 Central Bank of Bahrain’s Khazanah Nasional to IFN Reports: Sukuk Ijarah meets offl oad entire stake in Bank RATINGS • Kuwait consolidates Islamic fi nance expectations subscription target Muamalat Malaysia Capital Intelligence affi rms • IDB and World Bank sign US$9 billion strategic Albaraka Turk plans Employees Provident Emirates NBD’s rating partnership deal to support member countries • capital-boosting Sukuk Fund proposes regulatory RAM reaffi rms Bank Nigeria looks west for Islamic fi nance inspiration before the end of 2015; amendments; seeking to selects arrangers for Islam’s fi nancial institution • Jordan acquires best practices for maiden Sukuk create Shariah Advisory potential issuance and Sukuk ratings • New innovations for Malaysian SMEs • IFN Committ ee Capital Intelligence Indonesian government ISFIN partners with Global Trendswatch • IFN Weekly Poll: A concern downgrades Al Baraka auctions Shariah securities Manolis Eglezos & hindering growth is the lack of Islamic fi nance th Islamic Bank’s foreign on the 20 October with Associates knowledge by CFOs of potential issuers. One target of IDR2 trillion currency ratings DLA Piper expands deterrent is the terminology used for fi nancing (US$146.6 million) Indonesia’s favorable footprint in Africa; launches activities. To overcome this, should the industry government fi nances Arab Petroleum own offi ce in Morocco with continue to be a key rating demystify the jargon using understandable terms? Investments Corporation South African unit to follow strength, says RAM • SECP boosts NBFC segment with updated rules; opens orderbooks for debut suit Sukuk issue RAM reaffi rms the UAE’s creates new asset classes • QIB to tap US dollar Sunrise Properties global scale and ASEAN- Sukuk market • Sovereign Sukuk: Bahrain and ABHC Sukuk to make procures AED515 million profi t payment on the 26th scale sovereign ratings Indonesia .............................................................5 (US$140.18 million) October 2015 syndicated term and Development Bank of Murabahah facilities Kazakhstan’s ringgit Sukuk IFN Analysis: NEWS maintains ‘AA2/Stable’ rating The Philippines: The Christian Asian nation vying for IDB signs US$91 million development fi nancing Standard Chartered Saadiq a larger share of Islamic fi nance ............................... 14 Senai-Desaru Expressway expects toll increase to agreements with Tajikistan maintains top ratings Islamic microfi nance: At its initial stages boost company’s profi t and Togo ...................................................................................... 15 and enable it to service its GFH Capital purchases MOVES Case Study: Sukuk repayment US$125 million-worth of US Axis REIT appoints Leong First Singapore dollar Sukuk for 2015 — Cagamas ..16 industrial real estate assets Amanie Advisors eyes Kit May as new CEO; Column: expansion into Nigerian, George Stewart LaBrooy Daud speaks .........................................................17 Indian and Gambian markets ASSET to serve the board as non- IFN Country Correspondent: No rules on tapping independent non-executive Oman; Pakistan ..................................... 18 the Sukuk market yet, MANAGAMENT director says Bangko Sentral ng Special Reports: Ahlussunna WalJama’a Tawreeq Holdings Pilipinas Is Islamic fi nance wanted in Australia? .............. 20 Ashanti Regional Imam welcomes Margrith initiates fi rst Islamic Lütschg-Emmenegger to Islamic fi nance expands at a steady pace in Greater Halkbank requests to cancel approval for investment fund in Kumasi board of directors China ....................................................................... 22 establishment of Islamic London Central Portfolio Gatehouse names Trevor Malaysia’s Islamic CASA predicament .................. 23 bank partners with Al Rayan Homes as head of real Country Feature: Ayala Land increases stake Bank to launch Islamic estate fi nance Egypt: Islamic fi nance market review .................25 fund targeting Prime in MCT for its solid track Ahli United Bank names Central London’s private Takaful Feature: record in project execution David Hodgkinson as non- rented sector Takaful in Gambia ...............................................27 and business strategy executive director; David OCBC Al-Amin targets TAKAFUL Casson to retire next month Islamic Finance news ................................... 28 high-net-worth individuals David Williams joins BLME with the launch of Deal Tracker .................................................34 Sun Life Takaful extends Holdings as independent inaugural dedicated Islamic REDmoney Indexes .................................... 35 bancaTakaful agreement non-executive director premier banking center with Bank Kerjasama and chairman of the Risk Eurekahedge data ....................................... 37 Bank Simpanan Nasional Malaysia to achieve Committ ee Performance League Tables .......................39 subscriptions target plans new Islamic SME Ali Salaam to lead client Events Diary................................................. 43 fi nancing product Egyptian Railway coverage and placement Company Index ........................................... 44 Icon Bahtera completes Authority invites insurance capabilities of SHUAA Subscription Form .......................................44 drawdown of BN$37 operators to bid for EUR200 Capital million (US$226.86 million) Disclaimer: IFN invites leading practitioners and academics
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