Islamic Finance News Portal – Bringing you the latest updates in global Shariah finance

Watch out for news alert!

Posts Tagged ‘Moody’s

Moody’s sees slower Islamic banking growth

leave a comment »

Points of Essence:

  • Moody’s predicted a slower growth for Islamic banks despite them showing some resistance to the global financial crisis. The available data on the financial performance and liquidity in the 4th Q suggested a slow down next year. The fact that Islamic banking does not work in isolation from the crisis prone financial system, whatever issues boggling the financial system, the Islamic banking may be as well implicated. Zawya has the report.

Saturday, Nov 29, 2008

Gulf News

Dubai: Gulf-based Islamic banks, which have displayed resilience amid the current global financial turmoil, will see a slowdown in asset growth next year, ratings agency Moody’s said in a report.

Read the rest of this entry »

Advertisements

Written by Suapi Shaffaii

November 29, 2008 at 10:00 pm

Islamic finance sector becoming increasingly sophisticated

leave a comment »

Points of Essence:

  • Moody’s report revealed that Islamic finance has grown to the level of diversification, sophistication and innovation triggered by the mushrooming of Islamic financial institutions and abundance of liquidity in the market.
  • Business has diversified beyond geographical lines and products has evolved rapidly and become more sophisticated.

By Staff Writer

The Islamic finance sector is increasingly witnessing diversification, sophistication and innovation, thanks to new entrants, the launch of new products and abundant liquidity in the market, a new report has revealed.

“We have seen a mushrooming of new Islamic financial institutions (IFIs), and there are several reasons for this,” said Anouar Hassoune, a Moody’s Vice-President Senior Credit Officer in Global Banking report.

“The consolidation is not on the agenda of Islamic financiers at this stage: Microenomomic theory says that a growing and profitable market provides enough space for a sizeable number of newcomers,” said Hassoune. The report also emphasises the expectation that the expansion of the Islamic financial industry will lead to further diversification. Benefits are expected to be extracted from increasing sophistication and further innovation, but also from growing operating and geographic diversification.

Click here for more!

Written by Suapi Shaffaii

August 16, 2008 at 2:51 am

Posted in General Issue

Tagged with ,

Gulf govts increase grip on Islamic finance -Moody’s

leave a comment »

Points of Essence:

  • Moody’s Investors Service: The Gulf Arab governments took bigger stakes in Islamic financial companies to gain more control over the industry.
  • This is to avoid the Islamic banking industry to be over-dominated by the private sector and to ensure institutions will retain their ethical image.

Tue Aug 12, 2008 9:23am

DUBAI, Aug 12 (Reuters) – Gulf Arab governments may take bigger stakes in Islamic financial companies to gain more control over the industry as demand soars for investments and financial services complying with Islamic law during an oil boom, Moody’s Investors Service said on Tuesday.

Governments in the United Arab Emirates, Qatar and Saudi Arabia have set up new Islamic banks to company with Islamic law, or sharia, to ensure they retain an ethical image, the credit rating agency said.

Click here for more!

Written by Suapi Shaffaii

August 13, 2008 at 3:25 am

Posted in General Issue

Tagged with ,