Margins on traditional asset classes such as fixed income and equity may be thinning but like the saying goes, when one door closes, another opens; and in this case, the door for Islamic trade finance swung right open. Going against the current of a decelerating international trade finance market, Shariah compliant trade finance activities have instead surged on the back of renewed investor interest as our cover story finds out.
In this issue, IFN finds out if Kenya has indeed changed its Sukuk strategy, and if so why; we also explore the feasibility of a global Shariah council which Iran has proposed; and bring you an insider look at Fidelity International’s new Islamic fund, one whose strategy had to be modified in light of the changing geopolitical landscape. Egypt, the country which has flip-flopped between issuing a sovereign Sukuk facility for years is the focus of our country analysis this week, and so is Islamic finance human capital development, an area which the Islamic Corporation for the Development of the Private Sector is heavily invested in and continues to focus on. With potential legislation changes underway, the Islamic banking industry of the Philippines may just receive the boost it sorely needs, as explored by Rafael A Morales, the managing partner at Morales Justiniano Pena & Lumagui; and Ahmad Najib Nazlan, CEO of Maybank Islamic Asset Management brings us his perspective of the value of Malaysian equities.
As usual, we wish our readers an informative and insightful read.