Islamic Corporation for Private Sector Development Launch Islamic finance dev
Thomson Reuters Islamic Corporation for Private Sector Development Launch Islamic finance development index 03 12 2015
Malaysia, Bahrain and the United Arab Emirates issued lists of Islamic finance in terms of development
· Islamic finance assets rising by 9.4 percent to 1.814 trillion dollars in 2014
· 378 Mash worldwide availability of educated on Islamic finance
· 953 of Shariah scholars serving the industry through participation on boards
Manama, Bahrain: today announced the agency Thomson Reuters, the leader in intelligent information for businesses and professionals, with the development of the private sector Islamic Foundation Global Source, private sector development affiliate of the Islamic Development Bank arm, the publication of the main findings of the report of the Islamic finance development for 2015 index.
The report was launched during the events of the World Islamic Banking Conference, which is held under the patronage of His Royal Highness Prince Khalifa bin Salman Al Khalifa, Prime Minister of the Kingdom of Bahrain Council.
The report, to be issued for the third consecutive year, the statistics and trends in five key indicators are considered more important to measure the development of the Islamic finance industry worth an estimated US $ 1.8 trillion. These indicators include the development of quantitative and knowledge, governance and social responsibility (CSR) and awareness, and conducting follow-up of these indicators in 108 countries, was her contribution to all or some of these indicators.
According to the report, Malaysia's top Islamic finance development index again, while the Gulf Cooperation Council (GCC) continue to occupy the first rank in the category for the third year in a row. Among the GCC countries, Bahrain has maintained the second place in the world, while the exchange of the United Arab Emirates sites with the Sultanate of Oman to come in third place and landing the last rank fourth. Saudi Arabia, the second largest jurisdiction in the world in terms of Islamic finance assets, jumped from ninth place to sixth in the general classification, mainly due to the improvement in the activities of corporate social responsibility.
Showed countries such as Pakistan, Jordan, Hong Kong, India, Botswana, Ivory Coast positive movements in the classification of Islamic finance development index for 2015.
Khaled al-Aboudi, CEO of the Islamic Corporation for the Development of the private sector: "As a leader in supporting private sector development in all parts of the Muslim world Islamic finance institution, we recognize that the industry requires effective holistic measures to focus our efforts on facilitating and ensuring the overall development of the financial sector, comes index Islamic finance development of the private sector development of the Islamic Foundation in collaboration with Thomson Reuters to be one of the most important initiatives to assess the current overall situation for the Islamic finance industry and to measure the growth potential in each country. represents the index leader in the development of Islamic finance for all users of global reference, including policy makers and bodies organizational and financial institutions, investors and scholars of law, as well as for research and training departments concerned Islamic finance. "
Islamic finance assets rising by 9.4 percent to 1.814 trillion dollars in 2014
In 2014, the global Islamic finance assets rose until it reached 1.814 trillion dollars, which represents an increase of 9.4 per cent of the $ 1.66 trillion in 2013. This increase is due to the tremendous growth in all sectors - Islamic banking, takaful, instruments and Islamic funds. It is expected to increase the value of assets in the Islamic finance sector by 10 per cent annually over the next five years, to reach 3.24 trillion US dollars by 2020.
Nadim Najjar, General Manager for the Middle East and North Africa in the agency Thomson Reuters says: "Islamic finance sector has shown tremendous growth over the past few years, we have seen the industry and is developing an ecosystem favorable allowed many countries enter this field. There are currently more than Islamic financial institution in 1000, mostly in the Gulf Cooperation Council and South East Asia, and we expect a significant increase in this number over the next decade. "
378 Foundation has provided education on Islamic finance in 2014
During 2014, the number of certificates and courses of Islamic finance, also increased with research papers dealing with this funding, and kept the lead owners in 2013, and they Malaysia, Bahrain, Jordan, Bmratbhm leadership knowledge index for 2014.
378 Foundation has provided education on Islamic finance in 2014, and shared both Malaysia and the United Kingdom at the top of the list of the 36 countries that grant degrees in Islamic finance, with 141 institutions offering courses for Islamic finance in both countries.
The sub-index for research 0.1490 a research paper published in the Islamic finance during the past three years (2012-2014). There is a big gap between research output in Malaysia and their counterparts from other countries.
Governance index highlights the most transparent and secure financial markets
Bahrain and Malaysia maintained on the whereabouts in the first and second place in the general classification of the governance index, which takes into account three factors: regulations, corporate governance and corporate governance law. There is still a big gap between the two countries and the rest of the leaderboard.
And come Bahrain, Malaysia, Pakistan, Nigeria and Indonesia in the first mattress jurisdictions which owns the fullest set of regulations of Islamic finance, which are jurisdictions that offer the best models practices for the governance of Islamic finance, and is considered a role model for new markets such as France, Germany, Ghana and Russia.
In 2014, there were 953 world law providing services in the global Islamic finance industry, and was 75 per cent of those scientists engaged in their work in the first ten countries to the list of Islamic finance development index.
In the corporate governance index, Oman, the Maldives and Kuwait were the strongest, came South Africa and Malaysia close to those countries in terms of the number of corporate governance that have been disclosed and composition of boards of directors, as well as risk management and audit committees items.
Saudi Arabia tops corporate social responsibility index in absolute terms with a larger amount of zakat paid
There is a serious lack of disclosure of the activities of corporate social responsibility and the money spent in this area, it is among the 108 countries make up the world of Islamic finance development index, only contributed 25 in corporate social responsibility index, did not adhere to all of these 25 countries that contributed to disclose the extent of social responsibility for companies providing reveals how much funding has been spent in the doors of zakat, or charity or loan Hassan. Given the available data, the total financing amounted expense within Corporate Social Responsibility Index in 2014 amounted to 526 million US dollars, an amount that we know it is much less than the actual financing expense.
Palestine was the only jurisdiction in which financial institutions revealed all its activities and funds disbursed in the area of corporate social responsibility. The Kingdom of Saudi Arabia Her Top funding within the field of corporate social responsibility (as a result of the mandatory payment of zakat), which led to the sub-index issued by the private financing of corporate social responsibility. There is a very large gap between Saudi Arabia and Jordan, which occupies the second place. And come all the other GCC countries within the top ten, with the exception of Qatar, which occupied the fourteenth place.
Islamic finance core issues are still the main topics in seminars and conferences
Islamic finance continued to head the headlines in 2014 through the news, conferences and seminars. The number of seminars to 142 in 2014, and the number of conferences also increased from just 76 in 2012 to up to 122 in 2014.
There was also a story exclusively 19000 131000 and regional news story on Islamic finance in the world. That increase of 14,000 exclusive news and regional news 83000 in 2013, which was not a surprise result doubled the attention of many countries of the Islamic finance sector.
And stepped up Malaysia to the forefront of awareness index, while Oman fell to fourth place after being ranked first in 2013. Similarly, Bahrain and the United Arab Emirates has moved up one notch, to Tanla ranked second and third respectively, while exceeded the performance of Pakistan's expectations, especially in terms of seminars compared to last year. For the order of regions, the GCC topped most of the headlines, however, Southeast Asia and Europe were the two regions, which hosted the largest of events relating to Islamic finance a number.
A report issued in 2016 of Islamic finance development index sponsored securitization Holding an independent group of specialized companies and is the only of its kind in the field of Islamic structuring integrated series of trade and business financing solutions
To download the Islamic finance development index report from the private sector for the development of the Islamic Foundation and Thomson Reuters, please visit https://www.zawya.com/ifg-publications/
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About the Islamic finance development of the Islamic Corporation for Private Sector Development and the Thomson Reuters index
Islamic finance development of the Islamic Corporation for Private Sector Development and the Agency for Thomson Reuters index is a weighted composite index measures the overall development of the Islamic finance industry through the provision of a holistic assessment of the performance of all elements of this financing, in line with the objectives of the principles of Islamic Sharia.
It is a composite index with a world-class level with specific indicators by country or unit. Composite Index published annually, featuring a full report detailing each country or unit and initial figures index.
Each indicator is measured within the composite index and assembled components, which means that all the variables in the index given the same weight. In addition, there is a need for a settlement before any compilation of data, as the changing indicators in its data collection and different measurement units.
For the level of the composite index of the countries, being the settlement of the country indicators to allow for meaningful comparisons of a particular country and between countries, with the passage of time. And taken different economic indicators (such as the size of the population) into account during the Islamic finance industry safety measure in each country.
About Thomson Reuters
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About the private sector for the development of the Islamic Foundation
Islamic Corporation for the development of the private sector, multilateral financial institution, was created by the Board of Governors of the Islamic Development Bank Council. In November 1999 the Foundation has been established in order to strengthen economic development in the Member States in conformity with the teachings of Islamic Sharia. Encourage the Islamic Corporation for Private Sector Development on the establishment of private sector institutions and the expansion and modernization by financing private sector projects, the Foundation focuses on the finances development projects that aim to create jobs and to encourage exports. The Foundation also offers advisory services to governments and private sector institutions regarding policies aimed at encouraging the establishment, expansion and modernization of private enterprises and the development of capital markets and follow the best management practices and strengthen the role of the market economy. To complement the development of the private sector operations of the Islamic Foundation of the Islamic Development Bank's activities. For more information, please visit https://www.icd-idb.org "> www.icd-idb.org
Islamic finance development index report from the Islamic Corporation for Private Sector Development and Thomson Reuters is also sponsored securitization Holding, the sole provider of supply chain financing services compliant with Islamic law.