NEWSWIRETODAY Press Release& Newswire Distribution | HOME
MOST TRUSTED NEWSWIRE PRESS RELEASE DISTRIBUTION
PRTODAY / NewswireToday press release distribution service network
Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

Shari’a Sensitive Assets of Investors in the GCC and Far East Touch US$267 Billion - The Islamic Funds and Investments Report 2008 (IFIR 2008), released at the World Islamic Funds and Capital Markets Conference by Ernst & Young, states that Shari’a sensitive investable assets in the GCC and Far East have reached US$267 billion
Shari’a Sensitive Assets of Investors in the GCC and Far East Touch US$267 Billion

 

NewswireToday - /newswire/ - Muscat, Oman, United Arab Emirates, 2008/06/01 - The Islamic Funds and Investments Report 2008 (IFIR 2008), released at the World Islamic Funds and Capital Markets Conference by Ernst & Young, states that Shari’a sensitive investable assets in the GCC and Far East have reached US$267 billion.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial / Legal / Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

This translates into a potential annual revenue pool of US$1.34 billion for the Islamic asset management industry. The report focuses on markets in the GCC, Malaysia and Indonesia.

At the end of March 2008, there were over 500 Shari’a compliant funds in the world, 153 of which were established in 2007 alone. According to projections contained in the report, the total number of Islamic funds could reach 1,000 by 2010.

IFIR 2008 includes an analysis of the Islamic investment patterns of Sovereign Wealth Funds (SWFs) and of pension funds. SWFs in the GCC and Far East are estimated to hold assets worth almost US$1.3 trillion while pensions funds in the GCC have estimated assets of over US$46 billion. SWFs in the GCC are financed by soaring oil revenues while those in the Far East tend to be financed through reserves or debt. Although they were not originally set up to be Shari’a compliant, both pension funds and SWFs often engage in ethical investment strategies – which fit in neatly with Islamic instruments.

The report highlights some of the contrasts between Saudi Arabia and Malaysia, the two largest markets for Islamic asset management in the world, explaining why they need to be approached with differing investment strategies. Many investors in Saudi Arabia consider Islamic products to be ‘preferable’ – meaning that they will often choose an Islamic option over a conventional alternative even if the projected returns are not quite as favourable. While there are 120 Islamic mutual funds in Saudi Arabia (accounting for 55% of the total), investment strategies in Saudi Arabia have, until now, remained focused on equities. In Malaysia, Islamic products are ‘accepted’ – meaning that investors are prepared to consider both conventional and Shari’a compliant products. However, the enhanced depth of offerings across asset classes in Malaysia allows for competitive Islamic investment that attracts even non-Muslim investors. There are 134 Islamic mutual funds in Malaysia, accounting for just 10% of their total assets.

According to Sameer Abdi, Head of Ernst & Young’s Islamic Finance Services Group, “At a time when the GCC is enjoying unprecedented oil revenues, Islamic asset management will only gain more significance on the world stage. The industry is still in its early growth stages as the Islamic funds landscape exhibits a number of gaps and lacks depth in some asset classes. But there are many ways in which market participants can prepare themselves to benefit from this sector as it matures.”

Touching upon the risks faced by Islamic asset managers as outlined in IFIR 2008, Omar Bitar, Managing Partner, Business Advisory at Ernst & Young Middle East, said, “While competitive pressures on the Islamic financial services industry are compounded by the open-market nature of asset management, human resources continues to be a key risk to Islamic asset managers. In addition, they need to develop the sort of coverage in terms of geographies and asset classes held by their conventional counterparts.”

IFIR 2007 underlined the critical need for product development across asset classes to provide investment opportunities and support growth of the Shari’a compliant wealth management industry. This second edition of the report explores the ways in which the burgeoning Islamic asset management industry is exploiting those opportunities and meeting those challenges. It highlights continued economic growth across key markets and the resultant increase in liquidity held by major investor segments. It details demand-supply considerations across these investor segments and across geographical markets, before offering conclusions on existing and predicted gaps in Shari’a compliant products and service offerings. The report examines key strategic risks currently affecting the Islamic asset management industry and mitigating strategies being adopted by market leaders.

About Ernst & Young’s Islamic Finance Services Group

IFSG (ey.com) is a specialist group within Ernst & Young that caters to the specific needs of both Islamic and conventional financial institutions requiring Islamic financial advisory services. IFSG offers turn-key advice, from strategy development, to building operational frameworks and product suites. The Group has also been actively involved with assisting central banks and regulatory authorities in South East Asia, the Asian Subcontinent and North America.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial / Legal / Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: Promoseven Network, Inc. / Weber Shandwick

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick NewswireToday Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Financial / Legal / Venture articles,
CATCH Visitors via Your Competitors Announcements!


Shari’a Sensitive Assets of Investors in the GCC and Far East Touch US$267 Billion

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name NewswireToday and LINK as the source.
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Promoseven Network, Inc. / Weber Shandwick securities in any jurisdiction including any other companies listed or named in this release.

Financial / Legal / Venture via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From Promoseven Network, Inc. / Weber Shandwick / Company Profile


Read Financial / Legal / Venture Most Recent Related Newswires:

ALM’s Law.com Announces 'Lawyerpages,' A Next-Generation AI-Powered Legal Directory and Search Resource for Consumers and Law Firms
AdvisorVault Adds Office 365 to its Consolidated 17a-4 D3P Service
TRA Hires Mark McCool as Regional Sales Consultant
ALM Intelligence Launches New Innovative Legal Market Analysis Reports for Texas and The San Francisco Bay Area
TRA Completes Acquisition of Total Retirement Solutions, Inc.
ALM Intelligence Unveils Redesign of the Award-Winning Legal Compass
TRA Hires Paul Phan as Regional Sales Consultant
TRA Expands Retirement Group Plans Opportunities
TRA Announces the Acquisition of John T. Toomey Associates, Inc.
121 Financial Credit Union Selects NCR Digital Banking for Consumers and NCR Digital Banking for Business
ALM Announces the Launch of the Law.com Radar App for IOS and Android
TRA Completes Acquisition of Rosenfeld/Tortu Retirement Planning Co., Inc.
The Retirement Advantage, Inc. Celebrates 25th Anniversary
TRA Starts 2021 with Acquisition of R. Bruce Tanner & Associates, Inc.
SCOR to Provide Life Insurance Products for People with Chronic Conditions through New Partnership with Bayer and One Drop

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  The Franchise Group

Visit  RightITnow, Inc.





 
  ©2021 NewswireToday — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com newswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are proudly NOT affiliated with USA TODAY (usatoday.com)