Islamic finance had another great year. Many of its market segments progressed, like for example the Sukuk market gaining more maturity. Despite the ongoing debt crisis a good sign of hope and happiness.
Nevertheless we are - as an industry - still not satisfied with the achievements. Islamic finance shall grow stronger in terms of social impact and in terms of substance:
Hence, please allow me to re-iterate my call for participating in international initiatives beyond just our own industry to learn and spread knowledge and experience:
Calling Islamic financial institutions to become member of the United Nations Finance Initiative
Inshallah we see more Islamic financial institutions taking a lead in SRI, Social Impact Investing and other approaches while contributing with Islamic finance knowdledge to the conventional industry. The time is now; and there are signs that Malaysia aims for a lead:
On another but related issue: I remain personally pessimistic about the debt crisis and its ails suggested so far. Why? Well, still debt has a tax privilege and offering equity finance for banks is business wise too expensive:
Hence, we remain an overburdened debt society with repeating crisis, one after the other, as we never addressed the root cause. May God give us insight and the power for change!
Last not least, IslamicFinance.de remains my personal private effort. Any support is highly appreciated:
- Spread the word and tell others about IslamicFinance.de
- Put a link on your private or company website: http://www.islamicfinance.de/?q=node/4295
- Consider a donation if you can afford it: https://www.paypal.com/cgi-bin/webscr?cmd=_s-xclick&hosted_button_id=4S6...
- Apply for an account for the WIKI and contribute knowledge!
Some more self marketing:
1. Islamic Finance WIKI has about 50´000 visitors a year! Quite an achievement for a small industry.
2. The recently added job section is very popular from the very beginning; another reason to tell your friends about the website!
All the best - wa at taufiq min Allah,
Michael Saleh Gassner