While the Islamic finance industry is constantly expanding, it is worth remembering that this growth is supported and contributed by a diverse and varied range of stakeholders that extend far beyond the financial institutions themselves. One of the more pivotal and influential of these groups is the legal services industry, which plays an invaluable role not only in execution and operation but in promoting innovation and increasing sophistication in product structures and deal activity. This week our cover story looks at trends in the Islamic legal sector: and especially the increasing interest of international law firms towards the Islamic stronghold of the Middle East.
Our IFN reports cover the boom in commercial development driven by strong consumer spending and innovations in the Islamic microfinance scene of Indonesia; while our correspondent bring you news from Morocco. Our features this week explore Malaysia and sovereign Sukuk, brought to you by ISRA and State Bank of Pakistan. We also have a Takaful feature from Swiss Re ReTakaful, Islamic trading and brokerage by Hikmah Capital Corp, legal documentation by RHB Islamic Bank and credit financing by IIUM to round off another bumper issue for you.
As our cover story this week emphasizes, it is essential that all the cogs in the wheel work together to move the industry forward. Strengthen one pillar of support, and it will promote growth across the sector – ideally exemplified by the growth and development of the legal services industry boosting Islamic opportunities. As always, collaboration is key.