The eighth Islamic Finance
news Asia Forum was another resounding success as participants and speakers from all over the world across major sectors within the Islamic banking and finance market gathered to share their thoughts on the latest developments and current challenges facing the industry. Perhaps the most prominent theme throughout the forum was the need for real innovation and movement in the Islamic banking and finance sector, primarily in line with the principles of Maqasid Al Shariah.
New markets and opportunities were discussed, alongside recurring issues stemming from a lack of viable products for risk and liquidity management which jive with both the requirements of the Shariah and appeal to investors. The forum also saw the launch of Ernst & Young’s World Takaful Report 2013, which elucidated the challenges the Takaful industry currently faces including the fact that growth does not necessarily equate to profitability, and that Takaful operators are currently not equipped to compete with conventional insurers due to high operational costs and the need for an update in services and technology in line with today’s customers’ needs.
All this and more in this week’s issue of Islamic Finance
news, which we hope you will find a productive and educational read.