Documentos de Académico
Documentos de Profesional
Documentos de Cultura
Ijlal Alvi
Contents
Evolution of the Islamic Finance Industry & Islamic
Capital Markets
Sukuk Issues and opportunities
Islamic Liquidity management- Challenges and
potential
The Role of Takaful in Islamic Capital Markets
Role of infrastructure institutions specifically IIFM
Recommendations
Conclusion
2
1970s
commercial
3
banking
commercial
banking
project
finance &
syndications
commercial
banking
project
finance &
syndications
equity
Ijarah
commercial
banking
project finance &
syndications
Equity & Funds
Ijarah
sukuk
structured
alternative assets
2005+
commercial
banking
project finance &
syndications
Equity & Funds
Ijarah
sukuk
structured
alternative assets
liquidity
management tools
35000
30000
30000
25000
20000
15000
8463.26
10000
5000
100
800
1655
2087.3
2001
2002
2003
2004
3820.96
2005
Total
Est.
2008
Year
1000
2001
2002
2003
2004
2005
800
600
400
200
ta
n
ar
Pa
kis
Q
at
K
U
B
ID
m
an
G
er
sia
ay
AE
M
al
wa
i
Ku
Ba
hr
a
in
2000
1500
1000
500
0
2001
2002
2003
2004
2005
Years
6
Source: LMC
Once Sukuk Fund concept become more popular demand for Sukuk
issues will surge exponentially
Sukuk can play a major role in the development of Islamic InterBank or Short term Islamic Finance market
11
14
To establish,
develop and
promote Islamic
Financial Market
IIFM*
IFSB*
Governance
Regulatory IIFM International
Standards Islamic Financial
Market
IRTI Islamic
Research and Training
Institute
IIRA
AAOIFI*
LMC
Market Maker for Islamic
secondary market
instruments
GCIBFI
IRTI*
To promote Islamic
research and training`
IIRA International
Islamic Rating Agency
To enhance market
understanding of
Islamic finance
LMC Liquidity
Management Centre
Regulators Central
Banks, Monetary
Agencies, Securities
Commissions etc.,
16
Conclusion
For the Islamic Finance Industry to grow, move forward
and capitalize on the enormous growth potentials, there
should be:
Greater cooperation among the industry players
Better coordination to address the issue of Shariah
harmonization
Urgent need for the structuring of new capital market
products that are Shariah compliant
Creation of International Sukuk Fund
19
20
10