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The IFN Indonesia Report 2020 is an exploration of Islamic finance opportunities in the world's largest Muslim nation. It features the proceedings of the IFN Indonesia OnAir Forum, with perspectives from industry leaders on whether the Islamic finance giant has already awakened.

From the world’s leading Islamic finance news provider, this is the IFN Financial Innovation Report 2020 – a bespoke report exploring the latest trends, opportunities and analyses of Islamic fintech and digital innovation in Shariah finance across a multitude of verticals and key Islamic financial markets.

IFN and Malaysia Digital Economy Corporation are pleased to release the Islamic Fintech & Digital Financial Inclusion Report. The findings of the report are based on the input of senior decision-makers and leaders from the Islamic finance industry, including the government, regulators and fintech community, given during the ‘Islamic Fintech Dialogue 2020: Driving Financial Inclusion through Islamic Fintech’. Key highlights: Islamic fintech stakeholders identify nine strategic priority areas that will further reinforce and enhance financial inclusion in Malaysia Key priorities include setting up a national Islamic fintech taskforce, developing smart...

Darkest before dawn As we were wrapping up 2019, the editorial tone was rather optimistic. After a year of what many would have described as challenging, it was encouraging to see challenges in 2018 being turned into opportunities in the following year, translating into positive developments for the global Islamic finance landscape as the industry experienced a stronger Sukuk market, a banking sector which was becoming more streamlined, the introduction of a number of supporting regulations and the increasing proactive alignment of the Shariah finance community with the principles of...

A collaborative endeavor with stakeholders of the Islamic fintech ecosystem, this report deep dives into the fast-accelerating industry and provides a snapshot at what it has to offer in Malaysia. Within are the latest facts on the opportunities Malaysia has to offer in the Shariah fintech sector. This also includes the challenges it faces. More importantly, it highlights suggestions from the community. Among them are major pointers on how to best address marketplace gaps and other key recommendations that can drive the Islamic fintech agenda forward.

Southeast Asia's finest gather at the IFN Green & Sustainable Finance Forum to exchange opinions regarding the opportunities presented by the growth of ethical, sustainable and responsible finance to the Islamic banking, finance and investment industry Through a series of engaging keynotes, interviews and panels, event speakers and attendees explored how Islamic and sustainable finance can become more closely interlinked, and how Shariah compliant financial institutions and asset managers can play a greater role toward the achievement of the UN Sustainable Development Goals, including the alleviation of disease and reduction...

IFN is pleased to bring the IFN 15th Anniversary Special. We’ve reviewed how the industry we all serve has developed over the past decade and a half. Over 70 key markets and sectors are covered in this special with leading practitioners are authoring 15-year reviews to demonstrate how Islamic finance has evolved.

In the last two years, the Lion City has seen more movement on the ground: more foreign banks have begun opening dedicated Islamic finance desks in the city, leveraging Singapore’s international stature and infrastructure to tap international flows; more deals are being closed; and more Islamic fintech initiatives are being rolled out.

IFN returned to UK, widely recognized aa the Islamic finance hub of Europe, being the region's most popular destinations for Sukuk listings and being home to one of the largest communities of Islamic FinTech startups. The discussions this year revolved around the theme of the uncertainty around Brexit, financial institutions jumping ship to sustainability while ethically conscious entities are exploring Islamic finance to widen their portfolio.

Indonesia's finest gather at IFN Indonesia Forum to exchange thoughts and opinions regarding the most talked-about segments in the industry IFN returned to Indonesia, the world's most populous Muslim nation for the 9th year in a row. The Republic is armed with a strong political will and has a firm grip on its title as a world-class Sukuk contender, issuing more sovereign Sukuk than any other nations globally. This year's IFN Indonesia Forum reflected perfectly the exciting evolution of the Islamic finance market. The integration and synergy between the Halal...

Asia’s finest gather at IFN Asia Forum to exchange thoughts and opinions regarding the most talked-about segments in the industry IFN returned to Kuala Lumpur with its prestigious IFN Asia Forum, a two-day event with a renewed focus on issuers and investors on the 23rd – 24th April 2019. Malaysia, a pioneer in Islamic finance proved to be a glo0bal stage for Islamic finance experts globally with engaging panel discussions and presentations. Here’s an outlook of what went down at IFN Asia forum 2019.

Africa's finest gather for the IFN Africa Roadshow to offer a take on the latest developments of Islamic finance The inaugural IFN Africa Roadshow brought us to three stunning countries in different corners of the continent: Nigeria in the west, Kenya in the east and South Africa at the southernmost tip. Described as the next frontier for Islamic finance, and rightly so, Africa, which accounts for a quarter of the global Muslim population, holds much promise. The success of the inaugural IFN African Roadshow is testament to the Islamic finance...

Nomura Islamic Asset Management recently celebrated its 10th year anniversary. To commemorate this special occasion and to demonstrate continued commitment to Islamic Asset Management, the organisation hosted the Nomura Islamic Asset Management 10th Anniversary Forum – bringing together clients, partners and key stakeholders. The forum focused on themes surrounding sustainability, ethics, technology and innovation in investment management.

Once again, it is indeed our immense pleasure to be saluting the very best of the industry, who are relentlessly pushing the envelope in terms of innovation and impact, and are inspiring the rest of the world to go above and beyond in the discipline of finance for good.

The World Leaders Summit 2019 began on a cautionary note: having gone through a turbulent 2018, following a year wrought with instability as nationalism spread through Europe and the US, financial markets continued its roller coaster ride into 2019.Th is is not to say that it is all doom and gloom. Industry captains who gathered at the World Leaders Summit recognize the precarious environment we are in, and are taking into consideration the volatility in managing their expectations as well as in formulating an effective strategy

When Islamic finance professionals gathered in Sydney last year for IFN Australia Forum 2018 (the first in five years), the atmosphere was optimistic, with positive sentiments permeating. But fast forward one year — the enthusiasm has gone rather lackluster. While the regulatory impetus needed for the industry to flourish in Australia is still absent, there are other drivers propping the fledgling, but promising financial inclusion asset class. And with the support of our partners, we are happy to be part of this important journey serving as a platform for essential...

The Omani Islamic finance industry is at a crossroads: after years of stellar double-digit growth since its impressive start a short six years ago, it is the expectation of market participants for the expansion level to moderate moving forward as macroeconomic pressures weigh on while the industry irons out some regulatory kinks which may redefine the Shariah banking landscape. We are once again pleased to be producing the IFN Oman Report, which provides an overview of the market and key insights into the exciting Omani Islamic finance sector.

The song of the industry at the moment is ostensibly one of disruption instigated by fintech, but listen closely and you will realize that the industry is instead singing a tune of collaboration. Like any traditional financial institutions, Islamic financial institutions are bogged down by legacy issues, bureaucratic inertia and operational inefficiencies, while being additionally disadvantaged in terms of economies of scale. Industry practitioners are increasingly embracing the fintech ‘revolution’ to drive their next phase of growth. These were major themes at the inaugural Global Islamic Fintech Huddle which took...

The best of times, the worst of times The end of the year is once again upon us, and the last 12 months seem to have flashed past at the speed of light – it seems just a few short weeks ago that we were starting out in January with hope in our hearts and a spring in our step, high off the back of a strong year for Sukuk and an even stronger surge of sovereign issuance. So did that optimism translate into reality? 2018 was, as ever, a...

Kuwait may be a nation of only four million, but its Islamic banking and finance prowess is formidable. It holds the fifth largest concentration of Shariah banking assets in the world and with a 39% domestic Islamic finance market share, it is one of only 11 countries identified by the IFSB where Islamic finance has achieved systemic importance.

The AAOIFI Shariah Standard on Gold ushered in a new era for gold in Islamic finance. This report explores the impact of the standard on the industry, taking a look at new products, opportunities and the game-changing role the yellow metal can play.

There is no denying that Halal investments are becoming a global phenomenon, yet it is also a fact that many investors, including Muslims, are still unfamiliar what Shariah investments entail. The pervasive misconception and lack of public awareness continue to be a hurdle for the sector, compelling many Islamic investment managers to reinvent themselves. One major transformation, or transition rather, is that managers and service providers are aligning themselves with the ESG/SRI movement. We are also seeing industry participants exploring new distribution channels and strategies with technology at the core of...

Singapore’s time to shine? With its laissez-faire approach to Islamic finance, Singapore is almost a foil to Malaysia’s well-known top-down strategy. Shariah compliant financing activities have been sporadic and sparse and nowhere near the levels in neighboring Malaysia or Indonesia. But in the last two years, we’ve seen more movement on the ground: more foreign banks have begun opening dedicated Islamic finance desks in the city, leveraging Singapore’s international stature and infrastructure to tap international flows; more deals are being closed; and more Islamic fintech initiatives are being rolled out....

Strength in numbers Under the leadership of President Joko ‘Jokowi’ Widodo, the Republic sees Islamic finance as a key pillar in its Halal industry agenda as it looks to build a complete Halal value chain for the country. Steering the efforts are three overarching strategies: strengthen Halal economic segments, enhance the efficiency of Islamic markets and deepen research in Islamic finance and related industries to support the first two strategies. It is with great delight we bring you the IFN Indonesia Report which details key highlights of the IFN Indonesia...

All aboard the Turkish train The rising star of the global Islamic finance industry, Turkey continues to push the sector with forward-thinking policies and measures which attracted new players to the fold and facilitated new products. The Eurasian nation, however, is operating in a decidedly more challenging environment as compared to two years ago. President Recep Erdogan has to deal with rising dissatisfaction against his administration which culminated in street protests, scramble to reassure investors and the fi nancial markets following a collapse of the lira while maintaining bilateral ties...

The UK: Undisputed champion of the west It is with great delight that we introduce the inaugural IFN UK Report, an insightful review of the Islamic finance landscape in the UK exploring its performance, prospects,challenges and opportunities for future growth and development. Establishing itself as the foremost capital of Islamic finance in the western world, the UK has proven itself a center of excellence with its sophisticated financial infrastructure,robust regulatory environment and world-class minds. Despite the Brexit cloud looming over the country, London is still confident it will maintain its...

Morocco means business. Over the last two years, the Kingdom has introduced a raft of regulations, welcomed fully-fledged Islamic banks, facilitated the engineering of new Islamic financial products and is not showing any signs of slowing down. The Muslim nation has already signaled its intent to enter the sovereign Sukuk space and authorities are readying a pipeline of measures to keep the development momentum going. But like in any fledgling market, there are kinks to iron out in Morocco. Following a rewarding and successful IFN Morocco Forum, we have carefully...

The Islamic finance narrative in Australia is one of potential and hope. The rising affluence of the growing Muslim minority and the expanding pool of social-conscious and ethical investors in parallel to the increasing appetite for Australian investment opportunities from major Islamic finance markets make the Land Down Under an interesting proposition for Shariah-sensitive finance. This has led to a steady emergence of homegrown Islamic financial institutions and foreign-owned entities strategically positioning themselves in Australia to capture inward Middle Eastern and Asian investment flow.Yet, products remain limited and without the...

As the 21st FIFA World Cup kicks off, we are delighted to launch the first-ever IFN World Cup, a light-hearted contest to accompany the 2018 cup final stages — pitting country against country in a battle based on finance, not football. Who will emerge the winner in a competition that values Shariah compliance over sporting prowess, bond issuance over ball skills, Takaful over tackling and regulations over referees? Follow us as we take you on a nail-biting journey to determine the 2018 IFN World Cup winner for Islamic finance!

The enthusiasm for Islamic finance in the Sultanate is almost unparalleled and, coupled with a great thirst for innovation, ingenuity and improvement, we have seen Oman rise rapidly in stature in the regional league of Islamic finance in a relatively short period of time.  From banking to Takaful to Sukuk, the Sultanate has managed to maintain healthy double-digit growth since the formal introduction of Shariah compliant finance less than a decade ago. This is, of course, greatly facilitated by strong support from the regulators. Yet, it isn’t always hunky-dory - there are...

With the growth of Shariah assets declining for the first time in decades, heightened market uncertainties triggered by escalating geopolitical risks, divergent economic policies and the Dana Gas debacle, as well as the ongoing fintech revolution, the IF World Leaders Summit was indeed a timely addition to the REDmoney Events calendar. Thanks to the support of our partners and the stellar lineup of speakers, the Summit was a success, becoming an invaluable platform for honest conversations, real debate and brainstorming on the most important issues in the Islamic finance industry.

What a time it is for Islamic finance in Asia! Malaysia may be the bastion of Shariah finance but we are also seeing stars being born in the region. It is in this backdrop, we bring you the inaugural IFN Asia Report, featuring exclusive insights and discussions from the IFN Asia Forum 2018 as well as expert analysis from industry leaders, in addition to a number of market reports exploring the development, challenges and opportunities of the Islamic finance industry in Asia.

Bringing you the best As the year gets into full swing, IFN is once again delighted to bring you our annual Awards Report, detailing the very best of 2017 and listing the top performers and leading players in every category across our four industry-leading awards: Deals of the Year, Best Banks, Service Providers and Law. Last year was another exceptional year for Islamic finance, with innovations and advances across the global marketplace, and we are honored and proud to yet again recognize, reward and respect all the dedicated stakeholders who...

A turbulent year winds to close with hope on the horizon 2017 is drawing to a close, the frenetic activity of the fourth quarter is winding down and the holiday season is upon us once again. This year has been marked by major events and signposted by scandal, but despite the ongoing pressures we have witnessed an industry both resilient and robust, contributing to positive performance across multiple asset classes. The strength and sophistication of the global Islamic finance markets is displayed to impressive effect in the 2017 edition of...

Could 2017 be the year for Kenya to realize its Islamic finance ambitions? Kenya has not shown any signs of slowing down in crafting a conducive environment for its Islamic fi nance industry, especially amid stiff er competition from regional powerhouses. VINEETA TAN provides an overview of the country’s progress over the last 12 months.

Once again, IFN is delighted to announce our annual awards issue, which recognizes and unites the exceptional performance of so many sterling players within the Islamic financial industry and across the global financial markets. From banks to law firms, Sukuk issuers to service providers, this guide brings you the very best in show from the movers and shakers who are stirring up the sector and surging forward with innovation, dedication and inspiration.

KHALID HOWLADAR writes on Islamic finance or, to use his preferred and more inclusive term, ‘Participation finance’, as it is the dramatic political upsets of 2016 – the UK’s decision to exit the EU on the 23rd of June and the election of Donald Trump on the 8th November, that signal the ongoing wealth ‘exclusion’ is going too far and which has encouraged him to write on the topic with the hope of provoking further debate and promoting what he feels is actually an ‘old’ form of inclusive capitalism.

It is with great delight that we launch the inaugural IFN Turkey Report, an insightful review of the Turkish Islamic finance landscape exploring its performance, prospects, challenges and opportunities for future growth and development. Turkey has always been a bright spot for Islamic finance and the Republic continues to demonstrate strong political will to advance its participation finance industry by supporting development with various legislative and regulatory initiatives and top-down measures. Yet, it has not always been an easy journey for the Eurasian country, with 2016 bringing unexpected and unforeseen...

The markets are winding down and the festive season is fast approaching. But with a year once again marked by political turmoil and turbulent trends, performance has been subdued and prices precarious. Against this backdrop of uncertainty, our comprehensive and industry-renowned Annual Guide brings you a comprehensive overview of the past 12 months — shining a spotlight on the global Islamic finance industry and the opportunities and challenges it has faced throughout the course of 2016. The year has been a challenging one, following on as it did from the...

We are pleased to welcome the first-ever IFN Oman Report: a comprehensive exploration of the Islamic finance industry in Oman, its prospects for growth, and the opportunities and challenges presented along the way.  The Islamic finance industry in Oman has generated strong interest from both international and domestic players, and sustained support from regulators and authorities has contributed toward the development of a robust, unique and rapidly growing sector that has already exceeded initial expectations. The country has already made its mark on the global Islamic finance market, with valuable...

It’s that time of year again, and I am delighted to present to you the IFN Awards Guide 2015-16, bringing you a roundup of the top performers across the Islamic finance industry over the last 12 months. With five divisions and over 70 winners, the IFN awards as always cover a comprehensive cross-section of the market and recognize the best of the best in the fields of law, asset management, service providers, banks and deals of the year. One of the most prestigious accolades in the Islamic financial markets, the...

Once again the close of the year has come around more quickly than we ever thought possible, and it is time again for our annual review and outlook of the Islamic finance industry with a comprehensive overview of the highs, lows, peaks and troughs of the last 12 months – and what turbulent months they have been.  The euphoric highs of 2014 saw an explosion of non-Muslim sovereign issuances push Islamic finance into the mainstream public eye and record Sukuk volumes drive the sector forward amid strong interest, robust retail...

Pakistan came into inception about 50 years ago. However, it remained confined to public sector entities until the early 1990s. The first mutual fund was launched in 1962 when the National Investment (Unit) Trust was set up. In the early 1990s, many investment advisory companies were set up in the private sector offering closed-end mutual funds and in 1995, open-end funds were allowed in the private sector for the first time.