Islamic Bank of Britain plc (IBB), the UK’s only wholly Sharia compliant retail bank, is pleased to report a 63% increase in home financing and a 43% increase in long-term savings deposits for the first three quarters of 2012 (1st January to 1st October 2012).
Growth and demand, has been driven through the launch and development of new savings products, the IBB Home Purchase Plan (HPP, the Sharia compliant mortgage alternative) and Buy to Let Purchase Plans, supported by effective sales and marketing strategies……………………………………….Full Article: Source

A joint venture between Al Madina Financial and Investment Services and Malaysia’s ACA Amanie Al Madina ACA Amanie is planning to form a $50 million Sharia-compliant small and medium enterprise (SME) fund, as part of a major initiative to develop the market for Islamic finance.
An initial memorandum of understanding (MoU) was signed between Al Madina Financial and Investment Services and ACA Amanie, which is a joint venture between Korea Finance Corporation and Malaysia’s Amanie Advisors……………………………………….Full Article: Source

ING has completed the sale of its insurance operations in Malaysia to AIA Group Ltd. (AIA) with a net transaction gain of approximately EUR 750 million after tax. The sale includes ING’s life insurance business, its market-leading employee benefits business and its 60-percent stake in ING Public Takaful Ehsan Berhad.
As announced on 11 October 2012, ING received a total cash consideration of approximately EUR 1.3 billion for the Malaysian insurance business……………………………………….Full Article: Source

Islamic Bank of Britain (IBB), the country’s only sharia-compliant retail lender, said a deadline for a Qatari bank to decide on a proposed takeover offer had been extended to January.
IBB is majority-owned by Qatar International Islamic Bank , which has been in discussions since June with Qatari lender Masraf Al Rayan to sell a controlling stake in the British bank………………………………………..Full Article: Source

The Central Bank of Oman (CBO) will issue the final draft of the guidelines for Islamic banking in the first quarter of 2013, according to executive president H E Hamood Sangour al Zadjali.
Speaking to Muscat Daily on the sidelines of the opening of the Standard Chartered branch in Qurm on Saturday, H E Zadjali said, We have already circulated the draft guidelines to the banks and have told them to start work on the guidelines to prepare themselves for the roll out of the Islamic banking business. We will keep the directives almost in the same format and see how the banks function. And we will issue the final rulebook in the first quarter of 2013……………………………………….Full Article: Source

A report prepared by global consultancy firm Ernst & Young has said that Islamic banking is all set to cross the $1trillion mark this year, up from $826 billion in 2010, adding that the time is just right to establish Islamic sovereign wealth funds to “champion the growing internalisation” of the industry.
The “World Islamic Banking Competitive Report 2011-12” was prepared by Ashar M Nazim, Islamic Financial Services Leader and Imtiaz Ibrahim, Senior Director, Islamic Financial Services at Ernst &Young and released at the World Islamic Banking Conference held in Bahrain from December 9 to 11, 2012………………………………………..Full Article: Source

Australia’s first Islamic superannuation fund is being launched in Sydney. It follows similar products overseas, where customers can choose a superannuation fund in line with Islamic principles.
The fund is called ‘Personal Choice, Private Era’ and is being run by private Islamic wealth management company Crescent Wealth, through the Association of Independently Owned Financial Professionals’ personal choice category, called ‘Personal Choice Private e-wrap………………………………………..Full Article: Source

National Asset Management Limited (NAMAL) announced the launch of the NAMAL Sharia Fund, a Sharia compliant Unit Trust. The NAMAL Sharia Fund offers investors an opportunity to invest in a diversified portfolio of Sharia compliant equities listed on the Colombo Stock Exchange with the objective of maximising medium to long term returns. The Initial Public Offering (IPO) will commence today (17th December 2012).
NAMAL managed the first Sharia compliant Unit Trust in Sri Lanka – the NAMAL Amana Equity Fund - a five year close ended Unit Trust from 2007 to 2012. In the past year the Fund generated 5.60% in returns compared to the ASPI which declined by 11.22%. The Fund generated a 99% return to investors during the period 2007-2012………………………………………..Full Article: Source

Islamic finance is one of the fastest growing segments of the global financial industry. In 2008 the size of the global Islamic banking industry was estimated about $820 billion. Now it is closer to $1.35 trillion according to Global Islamic Finance Report (GIFR), and is expected to cross $1.6 trillion before the end of the current fiscal year.
The Islamic financial industry now comprises 430 Islamic banks and financial institutions and around 191 conventional banks having Islamic banking windows operating in more than 75 countries, according to the GIFR………………………………………..Full Article: Source

Sunny beaches and the paranormal triangle are synonymous with Bermuda in popular culture. Business Bermuda’s chief executive Cheryl Packwood, a regular to Bahrain, is on a mission to promote her island as a hub for Islamic finance.
Bermuda typifies the small is better principle. An island of ironies, the tiny country of around 70,000 people boasts the third highest per capita GDP of almost $88,000. A popular offshore destination for years and the world’s best known reinsurance market, Bermuda has slowly but steadily increased its partnership with the Middle East………………………………………..Full Article: Source

Qatar Central Bank Governor HE Sheikh Abdullah bin Saud al-Thani (pictured) has been appointed Chairman of the Islamic Financial Services Board (IFSB) for 2013. The QCB governor will take over the helm of the international standard-setting organisation from Rasheed al-Maraj of the Central Bank of Bahrain.
Dato Mohd Rosli Sabtu, managing director of Autoriti Monetari Brunei Darussalam has been appointed as the deputy chairman of the IFSB. The new appointments will take effect on January 1, 2013. The 2013 annual meetings of the IFSB will be held in Doha in April 2013………………………………………..Full Article: Source

Saudi Arabia-based Savola Group’s board of directors has given its approval for the company to establish a Sukuk programme. The approval for the Sukuk programme was received yesterday (15 December), according to a filing on the Saudi bourse. “The company will be enabled to issue Sukuk through one or more tranches or a series of issues in an amount that does not exceed the Company’s paid-up capital,” said the filing.
“The board has also authorised the company’s Managing Director to issue Sukuk under the programme and to take and complete all the necessary actions in this respect,” it added………………………………………..Full Article: Source

Takaful Malaysia today declared a second single tier interim dividend of 10% for the financial year ending Dec 31, 2012, bringing the total dividends declared to 25%.
The company said it translated into a dividend yield of 4.62% based on its share closing price of RM5.41 as at Dec 13, 2012. The total interim dividend represented a payout ratio of about 60% of the net profits generated for the period ended Sept 30, 2012………………………………………..Full Article: Source

MARC has affirmed CIMB Islamic Bank Berhad’s (CIMB Islamic) financial institution (FI) ratings at AAA/MARC-1 and concurrently affirmed its rating on CIMB Islamic’s Tier 2 Junior Sukuk Programme (Junior Sukuk) at AA+IS.
CIMB Islamic’s Junior Sukuk is rated one notch lower than its long-term financial institution rating due to the subordination of the Junior Sukuk to the bank’s deposits and its other senior unsecured debt. The outlook on the long-term ratings is stable………………………………………..Full Article: Source

CIMB (CIMB) Group Holdings Bhd. plans to take advantage of its purchase of Royal Bank of Scotland Group Plc’s Asian operations to regain its position as the world’s top sukuk arranger after slipping to second place in 2012.
The Malaysian bank is in talks with companies in India and China to sell ringgit-denominated sukuk as they seek to skirt a lack of Shariah rules in their own nations, Badlisyah Abdul Ghani, chief executive officer of the Kuala Lumpur-based Islamic unit, said in a Dec. 11 interview. The lender managed 13 percent of the record $45 billion in global issuance this year, trailing the 25 percent of nearest rival HSBC Holdings Plc………………………………………..Full Article: Source

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UEM Land Bhd, Malaysia’s biggest property company by market value, started marketing RM600mil sukuk, its first issuance of syariah-compliant Islamic bonds, two people familiar with the sale said.
The company was seeking to price the five-year sukuk to yield 4.25% to 4.4%, said the people who asked not to be named as the information is private. That’s as much as 114 basis points above similar-maturity non-Islamic government debt, according to Bank Negara Malaysia index………………………………………..Full Article: Source

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Despite the growth of the Sukuk market, more creativity around asset classes in terms of soft ware and intellectual property rights is needed to encourage the introduction of Sukuk instruments as a viable option in western and emerging markets. To many Islamic finance practitioners, the growth in the size of the Sukuk market has not necessarily been accompanied by a deeper level of geographical or asset class diversification.
The over-reliance on real estate assets or, for that matter, governmental or quasi-governmental credit enhancements is as prevalent today as it was during the pre-credit crunch era. This phenomenon can be attributed to a number of factors some of which are driven by the dearth of Islamic finance human resources at top investment banks, investment companies and multinational corporations………………………………………..Full Article: Source

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FWU AG Group (FWU), a Munich-based financial services company, recently issued a US$55,000,000 Sukuk - the first ever Sukukissuance by a German corporate and the largest ever Sukuk from a European Corporate. This is also the first Sukuk to utilize a computer software programme and intellectual property rights under an Ijara structure.
FWU, which primarily offers global Takaful (Islamic insurance) solutions through strategic cooperation and distribution arrangements in Europe, the Middle East and Malaysia, entered into the transaction through the Dubai branch of its subsidiary FWU Dubai Services GmbH. The ultimate financiers were GCC-based investors represented by Takaful companies that have assisted FWU in raising funding under the Ijara-based (sale and leaseback) method. (Press Release)” target=”_blank”>Source

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Strong global demand for Qatar Telecom’s imminent 10-year bond offering could prompt the company to reconsider its decision to cap the issue at $1bn, especially if interest from the United States is robust.
Investors are expected to pile into the issue, viewing it as virtually a sovereign issue priced at a small premium to Qatar government bonds and as a rare chance to invest in a corporate bond in the cash-rich state, the world’s top liquefied natural gas exporter. Qatar issued a $4bn Islamic bond, or sukuk, earlier this year in a two-tranche deal which attracted orders of over $25bn in total………………………………………..Full Article: Source

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Between 100 and 150 new financial institutions could be launched in the next five to seven years to serve the Muslim countries including Bangladesh that are new in Islamic banking or have low rates of penetration, according to a report by consultancy firm, Ernst & Young.
“Ten of the 25 fastest growing emerging countries like Bangladesh have large Muslim populations. Islamic banks are set to expand to compete with conventional lenders in attracting mainstream customers,” the report noted. However, the local experts have agreed with the Ernst & Young study as there are ample opportunities to promote Islamic banking services in the country………………………………………..Full Article: Source

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Standard Chartered Bank has launched an Islamic version of its online banking platform, Straight2Bank which will be offered in the United Arab Emirates, Bangladesh, Bahrain, Pakistan and Malaysia.
The new Shariah compliant platform, which is aimed at Standard Chartered’s growing Islamic customer base including SMEs, will give branchless access to cash management, trade, securities services and reporting………………………………………..Full Article: Source

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BankDhofar is ready to launch ‘Maisarah’ Islamic banking services, subject to the Central Bank of Oman (CBO) approval. ‘Maisarah’, meaning ease or comfort, will be a fully serviced Islamic window which will enable customers to access Sharia- compliant products and services through its highly skilled Islamic banking division which was established at the start of the year.
An extensive feasibility study into Islamic banking was conducted by BankDhofar as a direct response to the Royal Decree issued by His Majesty Sultan Qaboos bin Said in order to ensure that the bank offers its customers a best in class Islamic banking experience………………………………………..Full Article: Source

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Local banks are turning to the capital markets to finance expansion as they set their sights on growth both in the domestic market and overseas. On November 9, Qatar National Bank (QNB), the country’s largest bank by assets, announced that it had successfully completed a $1bn bond issue on the international markets, through its Euro Medium Term Note (EMTN) programme.
While QNB has turned to conventional debt markets to bolster its capital, counterparts have turned to the sharia-compliant (Islamic) instruments – particularly, of course, Islamic institutions. In October, Qatar Islamic Bank (QIB), the country’s largest sharia-compliant bank, issued a $750m five-year sukuk (Islamic bond) aiming to leverage high levels of liquidity and demand for issues in the region………………………………………..Full Article: Source

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The Islamic Development Bank is offering a new program for the citizens of its member countries for 2013/2014 academic year, Education Ministry of Azerbaijan said.
The program includes studies in doctoral programs in a number of leading universities of the world, and a further research work. Persons wishing to participate in the program should submit their documents to the Ministry of Education until December 24………………………………………..Full Article: Source

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PwC launched its first survey for Capital Projects and Infrastructure in the Middle East, titled “Delivering the Middle East’s Mega Projects”. The survey reveals that investment in major projects remains positive despite challenging economic conditions both globally and in the Middle East.
66% of respondents reported spending over $100m on major projects in 2012 across a broad range of industry sectors, with 72% expecting to increase their spending in 2013. Released today, the report seeks to establish issues and challenges facing project owners and explore opportunity markets. The report also sheds light on project financing issues, including funding constraints, perception of private financing and the funding outlook for 2013………………………………………..Full Article: Source

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Representatives of banks, microfinance institutions and non-government organisations of 27 countries including Bangladesh have agreed to develop Islamic microfinance to assist millions of poor across the world, stakeholders said in Dhaka on Thursday. The agreement was reached at the three-day “Global Islamic Microfinance Forum” that concluded at the World Trade Centre in Dubai city of the United Arab Emirates (UAE) on Monday.
Delegates of the relevant institutions and organisations from the countries from Asia, Europe, Africa and America expressed their firm commitment to help eradicate poverty by expanding Islamic microfinance in the coming years………………………………………..Full Article: Source

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The Malaysian insurance and takaful sector might see its earnings stability challenged by regulatory initiatives and the ongoing capital market volatility, said Fitch Ratings in a report.
The global rating agency said yesterday that regulators’ intention to eliminate both life insurers’ cap on acquisition costs and the fire tariff pricing structure could undermine the stability of their operating margins………………………………………..Full Article: Source

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Fitch Ratings says Malaysia’s insurance and takaful sector may see its earnings stability challenged by regulatory initiatives and on-going capital market volatility. Otherwise, the sector will continue to be underpinned by steady market growth and sound capital management, as underlined in its Stable Outlook.
In a special report published today, Fitch says the regulator’s intention to eliminate both life insurers’ cap on acquisition costs and the fire tariff pricing structure could undermine the stability of insurers’ operating margin. The impending implementation of Personal Data Protection Act could also modify insurers’ business practice, potentially leading to higher compliance costs………………………………………..Full Article: Source

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Takaful Ikhlas Sdn Bhd, a subsidiary of MNRB Holdings Bhd, estimates that its ChoicePlus brand medical card will generate some RM66 million in premium contributions for its financial year ending March 31, 2013.
Takaful Ikhlas executive vice-president Wan Mohd Fadzlullah Wan Abdullah said the card is expected to attract 70,000 participants. “Since the launch of Choice-Plus in September 2011, it has already attracted 14,000 employees and RM41 million in income,” he said after the signing an agreement between Takaful Ikhlas and the National Heart Institute (IJN)……………………………………….Full Article: Source

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Non-bank lender Firstmac and banks rumoured to be preparing to issue Islamic bonds, or sukuk, will be beaten by solar panel and heating installer the Solar Guys. The company is part of the fast rise in demand for this form of finance, with issuance forecast to triple to $US900 billion by 2017, a report by Ernst & Young claims.
Sukuk is being promoted as ideal for Australia’s capital-intensive industries such as construction or mining, but tax rules and pricing are still limiting access. Some also see sukuk as a way to help meet the huge shortfall in infrastructure funding Australia is facing………………………………………..Full Article: Source

FWU AG Group (FWU), a Munich-based financial services company, recently issued a US$55,000,000 Sukuk – the first ever Sukuk issuance by a German corporate and the largest ever Sukuk from a European Corporate. This is also the first Sukuk to utilize a computer software programme and intellectual property rights under an Ijara structure.
FWU, which primarily offers global Takaful (Islamic insurance) solutions through strategic cooperation and distribution arrangements in Europe, the Middle East and Malaysia, entered into the transaction through the Dubai branch of its subsidiary FWU Dubai Services GmbH………………………………………..Full Article: Source

A key issue for the sukuk Islamic bank market in the region is the time that it takes to bring an issue to the market. That is the view of Thomson Reuters global head of Islamic finance Rushdi Siddiqui. “Malaysia has developed its sukuk market in a manner that an issue can be issued swiftly and that is something this region needs to be able to replicate,” he said. “A key issue here is to come to the market faster.”
He said that the sukuk market was currently where the eurobank market was in the 1960s and 1970s and it has to move forward and raise efficiency so that non-Islamic financial institutions will come to this market to raise money………………………………………..Full Article: Source

Nakheel Properties has made a AED210m (US$57m) payment to sukuk holders as part of its debt restructuring deal which repays trade creditors 40 percent in cash and 60 percent via the Islamic bond.
The sum takes the total amount paid to trade creditors to AED9.6bn (US$2.6bn) since November 2009, the developer said. The Dubai-based real estate firm also said that property prices in Dubai are starting to show signs of stability………………………………………..Full Article: Source

Saudi Arabia will probably boost its dollar-denominated debt sales next year amid more than $500 billion of expansion projects in the largest Arab economy, Deutsche Bank AG said.
Less than 30 per cent, or $2.5bn, of the kingdom’s record issuance Islamic bond sales this year were denominated in the US currency, data compiled by Bloomberg show. In the UAE, the second-largest Arab economy, the majority of sukuk offerings this year were denominated in dollars as Gulf yields drop to a record, the data show………………………………………..Full Article: Source

Wealth management will be the next area of development for Islamic finance. The availability of products and services for Muslim high net worth individuals is still limited. “There is a lot of wealth parked in the conventional space, especially in the GCC,” Standard Chartered Saadiq consumer banking global head Wasim Saifi said.
“This wealth could easily move into the Islamic space if customers can find a Sharia-compliant option that can provide them with a diversity of risk and manage it properly.” Banks would need to innovate to wean customers away from conventional banking towards Islamic finance………………………………………..Full Article: Source

Islamic banks are set to expand as they compete increasingly with conventional lenders in attracting mainstream customers, according to a report by consultancy Ernst & Young.
The total of all commercial banks’ Islamic assets is estimated to reach $1.55 trillion this year, $1.8 trillion in 2013 and over $2 trillion mark, the report said. Gulf-based Islamic banks now have $450 billion in assets, about 30 percent of the total………………………………………..Full Article: Source

HSBC’s decision this year to stop offering Islamic products in many of its markets has sent shock waves through the Gulf region, one of the global hubs for Islamic finance. The move underscored the difficulties facing even the largest conventional lenders that have tried to lure new customers to bank in compliance with Muslim sharia law.
While the Islamic finance industry is forecast to expand at a tremendous pace, a broader question is emerging as to how to make Islamic banking profitable………………………………………..Full Article: Source

Pre-tax profit at HSBC Bank Malaysia Berhad for the nine months ending September 30th was 18.6 per cent higher than in the corresponding period last year. Profit before tax for the period rose to MYR 1,193m [Malaysia Ringgit] (£242.27m), MYR 187m (£37.98m) more than in the same period in 2011.
Operating income grew to MYR 2,267m (£460.45), an increase of 9% compared to the corresponding nine months in 2011. This was mainly due to higher income from Islamic banking operations of MYR425m (£86.30) and increase in net interest income………………………………………..Full Article: Source

Islamic assets held by commercial banks are set to hit $1.8 trillion next year, partly spurred by growth in the Gulf region, according to research by Ernst & Young.
However, the profitability of the Islamic sector still lags behind that of conventional banking. Saudi Arabia is the biggest market for Islamic banking followed by Malaysia and UAE, according to Ernst & Young’s World Islamic Banking Competitiveness Report 2013………………………………………..Full Article: Source

BankDhofar is ready to launch ‘Maisarah’ Islamic Banking Services subject to the Central Bank of Oman (CBO) approval. ‘Maisarah’, meaning ease or comfort, will be a fully serviced Islamic window which will enable customers to access Sharia’a compliant products and services through its highly skilled Islamic banking division which was established at the start of the year.
An extensive feasibility study into Islamic banking was conducted by BankDhofar as a direct response to the Royal Decree issued by His Majesty Sultan Qaboos bin Said in order to ensure that the bank offers its customers a best in class Islamic banking experience………………………………………..Full Article: Source

South African banking group, Absa which will soon take-over Barclays Africa, has indicated it plans to start Islamic banking in Ghana and other African countries.
Absa sealed a £1.3 billion deal with Barclays December 6, 2012 to takeover the British bank’s Africa operations. The move will enable Absa to acquire the operations of Barclays in nine African countries including Ghana where it will take over 100% of the bank’s operation in the country………………………………………..Full Article: Source

Gatehouse Bank plc, a Shariah compliant investment bank based in London, was a key representative at this year’s “Karaganda Invest” forum, the third international investment forum for Kazakhstan’s Karaganda region. The main objective of this one-day conference is to attract foreign and domestic capital into the local economy, and the event was attended by more than 600 representatives of ministries and departments, heads of banks and financial institutions, leading international experts and lawmakers, as well as over 60 news outlets from around the world.
Ms Azeemeh Zaheer, Vice President at Gatehouse Bank, was a key speaker at the event, co-organised by CSME Global, joining a high profile panel comprising key officials from the Government of the Republic of Kazakhstan, including the Deputy Prime Minister and Minister of Industry and New Technologies, Mr Asset Issekeshev, and the Governor of the Karaganda region, Mr Abelgazi Kussainov. (Press Release)

Standard Chartered Bank has announced the launch of an Islamic version of its award-winning online banking platform, Straight2Bank. The enhanced platform expands client access to the Bank’s Islamic products by providing its growing Islamic customer base a secure online portal that is compliant with Shariah laws.
The existing Straight2Bank platform was enhanced to meet the needs of the Bank’s Islamic clients, presenting a convenient, branchless access channel to cash management, trade, securities services and reporting. (Press Release)

Dubai Islamic Bank (DIB) announced that it has been named “Best Sukuk Arranger” and “Best Private Bank” at the 2012 Islamic Business & Finance Awards, a leading event for the global Islamic financial community. The awards were received by Dr. Adnan Chilwan, Deputy Chief Executive Officer, DIB and reflect the bank’s sustained focus on playing a vital role in the nation’s economy.
Speaking at the awards ceremony, Dr. Adnan Chilwan, said: “From handling the issuance of Islamic bonds for organisations that are integral to the UAE economy, to providing exclusive and unmatched private banking services for our high net-worth customers, we continue to innovate and set higher benchmarks for the Islamic finance sector. DIB has been a pioneer in Sukuk issuance and Islamic banking products and services, in general, and we are very pleased to receive these awards for continuing to provide the best Shariah-compliant alternatives to conventional banking services on the market today. We take pride in leading from the front, and look forward to continued success for years to come.” (Press Rlease)

Tourism Development ‘&’ Investment Company (TDIC), the master developer of major tourism, cultural and residential destinations in Abu Dhabi, has signed an exclusive home finance deal with Abu Dhabi Islamic Bank (ADIB).
The deal means that potential buyers of villas at its newly-developed Saadiyat Beach Villas will be offered home finance worth up to 100% of the value of a property - to a maximum level of $8.2m (AED: 30m)………………………………………..Full Article: Source

Takaful Ikhlas Sdn Bhd aims to achieve RM66mil in contribution from its health insurance products for the financial year 2012/2013. This compares with RM41mil in the financial year 2011/2012.
“Our collaboration with the National Heart Institute (IJN) and several other hospitals, will act as a catalyst for our efforts in achieving the target through our ChoicePlus product,” executive vice-president Wan Mohd Fadzlullah Wan Abdullah said………………………………………..Full Article: Source

Prudential BSN Takaful Bhd (PruBSN), the country’s largest takaful operator by new business, has launched a new medical plan to address the need for a comprehensive health and medical coverage for all Malaysians.
Dubbed “Takaful Health2″, the plan is available with the company’s investment-linked products under the PruBSN Link Series plan. “Under the latest enhancement, customers may now choose the zero deductible option where all the eligible benefits under Takaful Health2 will be fully covered,” said PruBSN CEO Azim Mithani………………………………………..Full Article: Source

The Asian Development Bank (ADB) said Tuesday it will help grow access to Islamic finance in Afghanistan, Bangladesh,Indonesia, and Pakistan with a USD 750,000 technical assistance grant.
In response to requests for assistance from the governments of the four countries, the grant will be used, amongst others, to develop an e-module platform to build capacities of officials in those countries on prudential standards developed by the Islamic Finances Services Board (IFSB), the
Manila-based lender said……………………………………….Full Article: Source

BlackRock Inc. (BLK) and Ashmore Group Plc (ASHM) will receive a premium on their Dana Gas PJSC (DANA) sukuk holdings after the fuel producer finished an agreement to revamp $920 million of Islamic bonds. Dana shares soared 10 percent.
Dana Gas, which missed sukuk payments in October, said it will split $850 million of debt into convertible bonds and an ordinary sukuk and pay creditors $70 million in cash. The five-year convertible bonds will pay a profit rate of 7 percent and the ordinary sukuk 9 percent……………………………………….Full Article: Source

According to the Forecast Study conducted by Thomson Reuters and Zawya in November 2012 study, global captive sukuk demand is expected to double from $240 billion in 2012 to reach $421 billion by 2016. Supply is also forecasted to grow but the spread between demand and supply is expected to widen even further to more than $280 billion within the next four years.
As Thomson Reuters reported, on the demand side, investors expect 50 percent of their portfolios to be allocated to Islamic finance investments, out of which between $200 million and $800 million, or an average of 35 percent to 40 percent, would be allocated to sukuk………………………………………..Full Article: Source