Rafe Haneef

Muslim countries should tap into #green #sukuk market, says CIMB Islamic

According to CIMB Islamic Bank CEO Rafe Haneef, Muslim countries and customers with such affinity should tap into the green sukuk market, given the estimated US$45 trillion demand for such assets. He added that green sukuk, was very much part and parcel of shariah compliance, which should be halal and sustainable. In the context of global sukuk, the total size per year is about US$45 billion to US$50 billion, so green bonds are already five times the size of sukuk. RAM Rating Services deputy CEO Promod Dass said there was US$3 trillion worth of green investment needs in Asean from 2015 to 2030. Maybank Group global banking head Datuk Muzaffar Hisham opined Malaysia was in the right direction of participating in the green sukuk sector. He added that appetite for green investment was growing, the only question remaining was how to accelerate it.

HSBC’s Rafe expected to helm CIMB Islamic

CIMB Group Holdings Bhd is expected to appoint Rafe Haneef, who currently heads HSBC Amanah Malaysia Bhd, as the new chief executive officer of its Islamic banking arm CIMB Islamic Bank Bhd. It is understood that Rafe has tendered his resignation, after almost five years of helming the foreign Islamic lender. The appointment is still in the process of getting Bank Negara Malaysia’s approval. CIMB Islamic Bank has been without a captain ever since Badlisyah Abdul Ghani resigned as its CEO and board member in July. CIMB Islamic Bank then appointed Mohd Shafri Shahul Hamid as the person in charge of the bank while it looked for a new CEO.

Malaysia retains lead in Islamic finance

Malaysia maintains its leading position in Islamic finance having a large volume of Islamic investors looking for syariah-compliant investments like sukuk compared to Singapore. The huge number of Muslim-owned companies in Malaysia is one of the most significant reasons for the high demand for syariah-compliant financing and sukuk issuance. 60 percent of global sukuk deals are concluded in Malaysia.

Help Middle Eastern investors understand Asian sukuk

There is a need to help Middle Eastern investors understand Asian sukuk, because if investors from the Middle East become familiar with Asian sukuk, it can be a driving force for more of its issuance in Asia. The statement came from Rafe Haneef, HSBC Amanah Malaysia Bhd chief executive officer.
He stated that infrastructure projects in Asia and the Middle East are anticipated to lead the growth of sukuk issuance this year, adding that Malaysia's biggest toll expressway company has recently launched a US$10 billion sukuk.

HSBC Amanah To Issue Innovative Sukuk For Retail Investors

HSBC Amanah Malaysia Bhd wants to present an innovative sukuk this year for retail investors to maintain HSBC's position as a leading sukuk house.
Rafe Haneef, chief executive officer, stated that a launch of a retail bond product is needed so that the retail investors can share the sukuk pie.
According to Rafe, the bank has almost completed its retail and corporate propositions and has also renewed its leasing products, which are world-class now.

Syndicate content