It had 68.8% share of the US$84.4bn of sukuks issued (sukuk is a form of Islamic bond) in 2011 And Islamic banking assets make up around a quarter of the country’s total. Given Indonesia’s tiny share of this mkt (3.7%), and Indonesia’s growing stature as a major emerging economy in Asia and the world, the sukuk market can only grow, making KL a future major global centre along the lines of Zurich, Edinburgh, or Boston i.e. a global centre of one type or a related group financial products.
Posts Tagged ‘Islamic banking’
Islamic finance is set to play a bigger and more central role in global finance. This is because of greater awareness and adoption in more financial centres.
Trade and Industry Minister Lim Hng Kiang said this at the launch of the inaugural World Islamic Banking Conference Asia Summit in Singapore on Monday.
So why is DBS cutting back on the activities of its Islamic banking activities?
Temasek should sort out the “FT is best policy” that dominates the thinking at DBS. It is on its 6th FT CEO in a row. It’s costing Temasek (and ultimately us) shareholder value.
Remember it was an FT that overpaid for Dao Heng Bank, and messed up the takeover of OUB. And the loss in market share in retail banking, so much so that the ex-CEO of PosBank has been brought back as adviser.
Other cock ups