IslamicFinance.de

The Islamic Financial Services Board (IFSB) and the Dubai Financial Services Authority (DFSA) successfully organised a Joint Seminar themed "The Role of Sukuk and Securitisation to Support New Financial Regulations". Ian Johnston, Chief Executive of the DFSA welcomed the IFSB and the Joint Seminar’s participants. He discussed the need for the industry to think laterally to address the shortage of liquidity management tools at Islamic institutions. The panel offered insight into sukuk instruments and the Islamic capital market developments. A panelist mentioned that there is expected to be 70bn USD of new issuance during 2017; however this is not enough to keep up with the projected growth of the Islamic finance industry. To resolve the impediments, the industry needs more standardisation in terms of legal documentation and Shariah interpretations. The Joint Seminar ended with the panel emphasising the need for liquidity generation initiatives to be supported at the regulatory and government levels.