WORLD - PUBLICATIONS - Ernst and Young - World Islamic Banking Competitiveness Report 2011-2012

Source

WORLD - Islamic banking assets could reach $1.8 trillion by end of 2016

JEDDAH: Islamic banks may be bolstered by a nearly doubling of assets within five years, as borrowers seek alternative methods of financing due to a cutback in lending at European and US banks, according to a report by Deutsche Bank.

The bank expects that mortgage financing, particularly in Saudi Arabia, could provide $100 billion in assets to the overall industry. (source)

TAKAFUL - Global Islamic insurance seen growing 31% in 2011

JEDDAH: Global Islamic insurance (Takaful) contributions are expected to reach $12 billion in 2011, an increase of 31 percent from $9.15 billion last year, Ernst & Young said in its "World Takaful Report 2011: Transforming Operating Performance" unveiled at the sixth Annual World Takaful Conference 2011 held in Dubai Saturday. (full story)

TAKAFUL - REPORTS - ERNST YOUNG World Takaful Report 2011

The Ernst and Young - World Takaful Report 2011 can be downloaded here.

BANKING - Turkey: Good growth so far in 4Q10 for the Banking sector - better spread formation is likely (and Participation Banks outperforming the sector again)

The BRSA (banking watchdog) released 26 November 2010 data for the banking sector. We have observed strong growth rates both in loans (4.8% qtd) and deposits (3.5% qtd) in 4Q10 so far following the end of 3Q10. YtD lending expansion stood at 26.5% as end of November, so that the annual loan growth in 2010 will be around 30% in the sector.

So far in 4Q10, corporate & commercial loans grew faster with 5.4% compared to the headline loan growth, which also calls for some drop in net interest margin (NIM) of the banking sector, as corporate loans are relatively lower yielding with respect to the other business lines. Other than the 1.3% qtd growth in credit card loans, the growth in consumer loans remained strong at 5.1% qtd, bringing the ytd consumer loan growth to over 32%.

RESOURCES - Islamic Finance Navigator - dictionnary AR/EN/FRE - transactions - analysis and reports

Deal all,

We have just launched the first version of an online Arabic, English and French Islamic Finance business dictionary, to facilitate the task of people working in the Islamic Finance industry and who find themselves having to deal daily with terms both from the Islamic finance and business.

REPORTS - Participation Banks Association Turkey - Sector as per 06-2010

Participation Banks Association - figures as per 06-2010

Source : Participation Banks Association Turkey

PUBLICATONS - REPORTS - IMF - Islamic Banks: More Resilient to Crisis?

Also see : http://islamicfinanceturkey.blogspot.com/2010/09/since-global-financial-crisis-started.html

Also see : http://islamicfinanceturkey.blogspot.com/2010/09/articles-imf-effects-of-global-crisis.html

A new IMF study compares the performance of Islamic banks and conventional banks during the recent financial crisis, and finds that Islamic banks, on average, showed stronger resilience during the global financial crisis.

FINANCE - GENERAL - Accountancy giant Deloitte calls for tightening of Sharia finance rules

Islamic finance needs more regulation to boost the detection of risk and restore its reputation after a series of financial troubles within the industry’s GCC heartland, says Deloitte & Touche.

A “sizeable” number of Sharia-compliant financial companies were not following industry best practices, the international accounting company found in a survey of the Middle East.

A multilateral framework of rules controlling Islamic finance in the region was needed if the industry was serious about entering new markets, said Hatim el Tahir, the director of Deloitte’s Islamic finance knowledge centre in Bahrain. “Failure cases have triggered interest in more transparency and disclosure,” he said. “Increased corporate governance is needed within the management of Islamic finance products.”

REPORTS - The first Deloitte Islamic Finance leaders survey in the Middle East

This is the first Deloitte Islamic Finance leaders survey in a biannual series targeted at industry practitioners and leaders of Islamic Financial Institutions (IFIs) in the Middle East. The survey is based on interviews conducted with industry leaders between April and June 2010.

Several key themes emerged in the results of this survey. The first is a fair consensus on the need for an effective regulatory framework and good governance. The survey findings emphasize the importance of introducing new or revised regulatory measures–chief among them being Islamic accounting standards and risk management.