Just as the principles of Shariah are the building blocks of the Islamic finance industry, allowing us to construct a strong sector with sturdy foundations; so Sukuk are our tools for development, enabling the creation not only of a robust capital market but in a very real sense, funding the physical structures needed for Islamic nations to develop. This week our cover story explores the exciting trend for infrastructure Sukuk, and looks at the support it is receiving from supranationals, sovereigns and the private sector as its foundations grow deeper and its reach higher.
Our IFN reports this week look at Albaraka Turk and the role of conventional banks in the Islamic space, while our correspondents bring you news of law, syndicated finance, Afghanistan, Brazil and India. Our Oman features this week are contributed by Sadaf Buchanan of Dentons & Co and Azman Rafique of Oman Arab Bank, while we also have features on derivatives and hedging by Jeffrey Graham of Borden Ladner Garvis and Salman Ahmad Shaikh who heads the Islamic Economics Project. Special reports this week are on the use and abuse of limited liability from a Shariah perspective by Dr Ahmad Alkhamees from Harasani & Alkhamees law firm; a detailed analysis on unique risk exposures of Islamic banks’ capital buffers; and Shariah compliant factoring by Shah Fahad Yousufzai of Bakhtar Bank and Ali Mushtaq of Ghazanfar Bank.
In concurrence with our IFN Indonesia Forum taking place in Jakarta this week we also look towards new markets and new developments, and once again reiterate the pride and excitement we feel as the industry expands ever further, building on itself and its achievements to reach new heights and set new goals. I hope you enjoy this bumper issue, and I wish all our readers a productive, profitable and positive week ahead.