Tiny Malta has long flirted with Islamic finance to put it more firmly on the map as an offshore banking center. Ironically, the country may have now identified an ideal project for a sukuk—sometimes called an Islamic bond—at a time when it may not need Middle East capital. The tunnel between the islands of Malta … Continue reading Islamic Finance Falters on Global Stage
Islamic Bankers Recalibrate Expectations
The need to rationalize capacity in the Islamic finance industry is likely to be one side effect of a more deliberate economic setting worldwide. In particular, we expect to see further dislocations in the sukuk business, as issuance falters. That outlook contrasts with the industry-centric view that the asset class will grow continuously. We focus … Continue reading Islamic Bankers Recalibrate Expectations