Precy Dumlao, Opalesque Asia:
Fred Tabbal, the Regional Head of Fund Services for Maples Fund Services in the
Middle East, said that Islamic finance is staging a major comeback and he is seeing a record issuance of Islamic finance products in terms of size in the Sukuk market, that he described as very encouraging.
Speaking at the latest Opalesque Roundtable Series - Gulf (Abu Dhabi) 2013, Tabbal told hedge fund managers who attended the event, "We do see a major surge of Islamic Finance. We have a significant book of Sharia-compliant funds and assets, and the good news is that we have a scalable and flexible platform that is able to adhere to the Sharia reporting standards. That is important because the different Sharia scholars all have their own reported requirements. If you are not able to customize your reporting and produce the information in the format they are looking for, then you’ll have issues."
The Opalesque Roundtable Series - Gulf (Abu Dhabi) 2013 was sponsored by Eurex and Maples Fund Services and took place May 20th 2013 in Abu Dhabi with.
He continued that the demand for the product is there and certain institutional investors will require that it is Sharia-compliant."
According to Tabbal, Sharia-compliant funds could cover a very wide ......................
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