71,332 exclusive articles and counting...

IFN Annual Guide 2021

IFN Annual Guide 2021

The storm shall pass

Volatility is built into the DNA of the financial markets and while we may embrace and live by this truth, nothing could have prepared us for what 2020 unleashed.

To say that the COVID-19 pandemic ground the world to a halt is perhaps not an overstatement. Economies paralyzed, borders shut, governments scrambling to find a solution as the number of infectious cases and deaths continued to climb – such chaos at such a scale, is unprecedented.

One year on since the coronavirus bared its fangs, we are still navigating this “new” normal, with many still hoping to return to pre-pandemic normalcy – although that is unlikely, at least not for a few years as the damage caused has been so severe.

It has been a painfully challenging year, with lives and livelihoods lost. For the optimistic, it has been a period of real test of the industry’s resilience; and resilient the industry has been.

If we look at the Sukuk asset class, the industry’s poster child: we see that the market showcased encouraging figures with more Sukuk issued in the first three quarters of 2020 at US$130 billion against the same period in 2019. The return on investment-grade dollar Sukuk until November 2020 was about two percentage points higher than the average annualized return for five-year papers. And if anything, the pandemic has been a much-needed trigger to catalyze the growth of sustainable Sukuk, with governments (such as Malaysia and Indonesia) and multilateral organizations such as the IsDB going to market with landmark offerings designed specifically to combat the fallout of COVID-19.

For the Islamic banking sector, like its conventional counterpart, it has been wrestling with deteriorating asset quality and tighter liquidity. Yet, Islamic banks are still posting growth, albeit at a lower level. And more significantly, the pandemic has compelled Islamic banks to expedite their digital strategy, deploying and adopting technology at a pace which would not have been possible without COVID.

Despite a global oil price crash, a deadly virus, and messy geopolitical developments, Islamic funds have been impressive at garnering more traction: mid-November 2020 data shows that global Shariah funds assets under management grew above US$165 billion from 2019’s US$105 billion. And as expected, at a time when risks and uncertainties have become center stage in our lives, the appreciation for Takaful insurance as a risk management instrument has deepened across many markets.

It is incredibly easy to focus on the bad rather than the good – it is almost human nature to do so. But to manage any calamity and turmoil, hope, optimism and gratitude are of crucial importance. Thankfully, the industry – which we have continuously engaged – is keeping its chin up, and is seeing rays of opportunity in this dark storm.

The industry has benefited from rapid digitalization and ‘fintechization’; the role of Islamic finance – particularly philanthropic and Shariah social finance instruments – as a tool for financial inclusion and to meet development needs has been vindicated; and the confluence of ethical and Islamic finance has never been stronger.

Nobody is denying that 2021 will be another challenging year nor that it will be a long journey to recovery – as elaborated by the many experts who have authored and shared their projections for the industry in this seminal publication. But many, backed by historical data and recent performance, firmly believe in the value, resilience and solidarity of the industry; and together, we will weather this storm as we have always done.

Vineeta Tan
Managing Editor
IFN

Download

Content in IFN Annual Guide 2021

Kuwait: Policy issues for developing the debt capital market

IFN Annual Guide 2021 | Features

Sukuk as a feasible option for Japanese investors

IFN Annual Guide 2021 | Features

Cross-border Islamic financing in focus for Kazakhstan

IFN Annual Guide 2021 | Features

2020: Kenya’s continued efforts in the Islamic finance sector

IFN Annual Guide 2021 | Features

Kyrgyzstan: Islamic finance to mobilize domestic resources and attract additional investments

IFN Annual Guide 2021 | Features

A slow and uncertain progress for Islamic banks in Lebanon

IFN Annual Guide 2021 | Features

Luxembourg to play key role in renewed growth of Islamic finance on European continent

IFN Annual Guide 2021 | Features

Charting new heights for Malaysia’s Islamic finance landscape

IFN Annual Guide 2021 | Features

Islamic finance-based renewable energy

IFN Annual Guide 2021 | Features

Islamic retail asset management

IFN Annual Guide 2021 | Features

Diversifying approach in Islamic social finance

IFN Annual Guide 2021 | Features

Importance of an effective Shariah compliant repo market

IFN Annual Guide 2021 | Features

What’s next for Islamic financial institutions in India

IFN Annual Guide 2021 | Features

Retail banking in 2020: Learnings and moving forward

IFN Annual Guide 2021 | Features

Risk management — liquidity under COVID-19 stress

IFN Annual Guide 2021 | Features

A careful economy ahead for secondary markets

IFN Annual Guide 2021 | Features

Islamic securitization pre- and post-COVID-19 era

IFN Annual Guide 2021 | Features

Interaction key to ensuring more harmonious Shariah rulings

IFN Annual Guide 2021 | Features

Islamic banking helps Bosnia & Herzegovina cope with economic crisis

IFN Annual Guide 2021 | Features

Public–private partnership for Islamic SMEs to survive

IFN Annual Guide 2021 | Features

Brazil: A trade partner and investment destination

IFN Annual Guide 2021 | Features

More sovereign Sukuk issuances expected next year

IFN Annual Guide 2021 | Features

Brunei Darussalam: Resiliency against the pandemic

IFN Annual Guide 2021 | Features

Islamic impact finance in the context of COVID-19

IFN Annual Guide 2021 | Features

COVID-19 did not stop the Islamic finance push for standardization

IFN Annual Guide 2021 | Features

Canada making strides in the world of Islamic finance

IFN Annual Guide 2021 | Features

If you play rugby, you cannot follow football rules

IFN Annual Guide 2021 | Features

Higher Islamic syndicated financing volumes expected in 2021

IFN Annual Guide 2021 | Features

Central Africa: Traction and positive change expected in 2021 and beyond

IFN Annual Guide 2021 | Features

Takaful in Asia — every cloud has a silver lining

IFN Annual Guide 2021 | Features

The rebirth of Takaful in Europe

IFN Annual Guide 2021 | Features

Tax: Increased transparency to open up cross-border dealings

IFN Annual Guide 2021 | Features

China needs Islamic finance for Belt and Road Initiative

IFN Annual Guide 2021 | Features

The evolving role of Islamic trade finance in the new normal

IFN Annual Guide 2021 | Features

Djibouti: Islamic investment center for East African region

IFN Annual Guide 2021 | Features

Emergence of ‘Robin Hood’ traders increases trading and brokerage activity

IFN Annual Guide 2021 | Features

Egyptian Sukuk industry leaps forward

IFN Annual Guide 2021 | Features

Gender disparity amid pandemic and technology

IFN Annual Guide 2021 | Features

Despite political noise, groundwork in the making for the long run in France

IFN Annual Guide 2021 | Features

Islamic fintech to play key role in German market

IFN Annual Guide 2021 | Features

The push for Islamic finance development in Ghana

IFN Annual Guide 2021 | Features

Hong Kong diversifies Islamic finance prospects post-social and pandemic crises

IFN Annual Guide 2021 | Features

Indonesian Islamic finance to focus on retail market

IFN Annual Guide 2021 | Features

Reforms in Iran’s Shariah compliant financial system

IFN Annual Guide 2021 | Features

Ireland: Rise of sustainable finance to address climate change a unique opportunity for Islamic finance

IFN Annual Guide 2021 | Features

An alternative financing opportunity in Italy

IFN Annual Guide 2021 | Features

The Ivory Coast: Strengthening of regulatory framework for Islamic finance

IFN Annual Guide 2021 | Features

Digital pseudo-Sukuk to pave the way to better Islamic investments within Malta

IFN Annual Guide 2021 | Features

Islamic finance growth to continue with adoption of index-based investing

IFN Annual Guide 2021 | Features

Islamic pension funds: The next big thing in Islamic finance

IFN Annual Guide 2021 | Features

Renewed emphasis on learning and talent development

IFN Annual Guide 2021 | Features

An exceptionally good year

IFN Annual Guide 2021 | Features

A global survey of Islamic wealth management

IFN Annual Guide 2021 | Features

Banking industry in Afghanistan stays positive for 2021 with more achievements expected

IFN Annual Guide 2021 | Features

Regulation of Islamic finance operations in Algeria

IFN Annual Guide 2021 | Features

Legal and regulatory aspects of Islamic finance and banking

IFN Annual Guide 2021 | Features

Islamic leasing: An intrinsic antidote to stimulate economic recovery

IFN Annual Guide 2021 | Features

Economic darkness in Australia with glimpses of light for Islamic finance and investment

IFN Annual Guide 2021 | Features

COVID-19 disruptions on liquidity management of Islamic financial institutions

IFN Annual Guide 2021 | Features

Islamic banks continue to be the catalyst for Islamic M&A deals

IFN Annual Guide 2021 | Features

Bahrain: Consolidating change through resilience and innovations

IFN Annual Guide 2021 | Features

Islamic microfinance critical for economic recovery: A micro and small enterprise perspective

IFN Annual Guide 2021 | Features

Islamic venture capital on the way up, Islamic private equity on the way out

IFN Annual Guide 2021 | Features

The Islamic project and infrastructure finance market

IFN Annual Guide 2021 | Features

Sovereign credit ratings of major Islamic economies

IFN Annual Guide 2021 | Features

Islamic banking industry in Bangladesh: Trends and outlook

IFN Annual Guide 2021 | Features

Real estate: An enduring appeal

IFN Annual Guide 2021 | Features

The compliance outlook for Islamic finance

IFN Annual Guide 2021 | Features

Optimism and caution for equity capital markets in 2021

IFN Annual Guide 2021 | Features

The obvious roadmap, or is it? Thoughts on strategic drivers for 2020 and beyond

IFN Annual Guide 2021 | Features

Mind the gap: As SDG financing gap widens, we must harness the power of science, technology and innovation

IFN Annual Guide 2021 | Features

Building a stronger and more sustainable world together

IFN Annual Guide 2021 | Features

Advancing sustainable finance in Malaysia – the year in review

IFN Annual Guide 2021 | Features

Interview: Moawia Ahmed Elamin, CEO of Faisal Islamic Bank, Sudan

IFN Annual Guide 2021 | Features

Market outlook on Islamic accounting

IFN Annual Guide 2021 | Features

A bird’s eye view of global Islamic agricultural financing

IFN Annual Guide 2021 | Features

Fasten your seatbelts — successfully navigating the turbulence

IFN Annual Guide 2021 | Features

Islamic fintech and crowdfunding

IFN Annual Guide 2021 | Features

Cybersecurity in a pandemic era for Islamic finance

IFN Annual Guide 2021 | Features

Riding the pandemic wave

IFN Annual Guide 2021 | Features

Derivatives in Islamic banking

IFN Annual Guide 2021 | Features

Islamic finance education adapts to change in new normal

IFN Annual Guide 2021 | Features

Smarter to travel in groups

IFN Annual Guide 2021 | Features

Islamic family offices moving toward recovery

IFN Annual Guide 2021 | Features

A view on the future of corporate and financial institutions Sukuk

IFN Annual Guide 2021 | Features

Economic uncertainty in 2020 and the dual nature of gold

IFN Annual Guide 2021 | Features

A wake-up call for the Halal industry

IFN Annual Guide 2021 | Features

Islamic finance and healthcare: A relationship worth investing in?

IFN Annual Guide 2021 | Features

2021: Can the COVID-19 crisis help shape our economies for future growth?

IFN Annual Guide 2021 | Features

AAOIFI’s achievements in 2020 and future initiatives

IFN Annual Guide 2021 | Features

IFSB’s achievements in 2020

IFN Annual Guide 2021 | Features

IIFM activities in 2020-21

IFN Annual Guide 2021 | Features

IILM increases issuance program size to US$4 billion for more Shariah compliant liquidity management instruments

IFN Annual Guide 2021 | Features

UK: Cautious asset allocation and stock picking in 2021

IFN Annual Guide 2021 | Features

Can the GCC debt capital markets make an impact?

IFN Annual Guide 2021 | Features

Fintechs to reset for growth beyond COVID-19

IFN Annual Guide 2021 | Features

The resurrection of Islamic finance in Mauritius

IFN Annual Guide 2021 | Features

Morocco: A challenging start for Islamic finance

IFN Annual Guide 2021 | Features

New Zealand: Idyllic for Islamic finance

IFN Annual Guide 2021 | Features

Nigeria: Making the best of it

IFN Annual Guide 2021 | Features

Offshore centers continue to feature prominently in Islamic financing transactions

IFN Annual Guide 2021 | Features

Oman: Resilient in the face of unprecedent challenges

IFN Annual Guide 2021 | Features

Islamic finance in Pakistan remains resilient to pandemic

IFN Annual Guide 2021 | Features

Palestine: A promising investment avenue for Islamic finance

IFN Annual Guide 2021 | Features

Forging ahead with Islamic banking

IFN Annual Guide 2021 | Features

Qatar: Hope in uncertain times

IFN Annual Guide 2021 | Features

Online format for Islamic financial instruments in Russia

IFN Annual Guide 2021 | Features

Saudi Arabia under rapid transformation

IFN Annual Guide 2021 | Features

The impact of Islamic finance in times of a health crisis in Senegal

IFN Annual Guide 2021 | Features

Singapore: Slow but steady progress

IFN Annual Guide 2021 | Features

Ethical investing is key in the current climate of South Africa

IFN Annual Guide 2021 | Features

Sri Lanka: Pearl of the Indian Ocean

IFN Annual Guide 2021 | Features

Growing Islamic finance in Tanzania

IFN Annual Guide 2021 | Features

Islamic finance resilience in Tunisia is still under pressure

IFN Annual Guide 2021 | Features

Regulatory landscape and Shariah governance in Turkey

IFN Annual Guide 2021 | Features

UAE: Islamic finance records healthy growth despite challenges

IFN Annual Guide 2021 | Features

Islamic finance in the US remains a niche sector

IFN Annual Guide 2021 | Features

Opportunities and expectations for Islamic finance in Uzbekistan

IFN Annual Guide 2021 | Features

The storm shall pass

IFN Annual Guide 2021 | Features