IslamicFinance.de

According to Moody's Investors Service, the global sukuk market will continue to rebound from a sharp drop in volumes in 2015. Analysts estimate that total sukuk issuance will reach around $95 billion by the end of this year, after more than $85 billion in 2016, including more than $50 billion of sukuk issuance by sovereigns. Moody's Vice-President Christian de Guzman expects that sovereign sukuk issuance volumes will continue to grow in 2018 as governments look to diversify their financing mix and satisfy the liquidity needs of Islamic retail banks. Sovereigns issued more than $40 billion of sukuk in the first eight months of the year. This represents a 50% increase compared to the same period last year. In 2017, market growth was driven by Saudi Arabia with a total issuance of $17 billion. Other countries with large fiscal deficits, such as Oman and Bahrain, will also contribute to the market's expansion.

For the second time after the 2013 edition, Tunisia has been chosen to host the World Social Forum. The forum will be held from March 24 to March 28 at the Farhat-Hached university campus in the capital Tunis. The organizational committee for the 2015 forum, under the head of Tunisia's social and economic rights forum, Abderrahmane Hedhili, said that civil society would be mobilized for the event as it was in 2013.

Turkish and international bankers convened at the IFN Turkey Forum 2014 in Istanbul on Thursday to discuss Turkey's growing Islamic banking sector. Professionals from Turkey, Malaysia, Qatar and the United Arab Emirates discussed a number of key issues pertaining to various markets, trends and strategies. The Islamic banking sector is booming in Turkey, according to Central Bank of Turkey Deputy Governor Murat Cetinkaya, who said that Islamic banks have doubled their market share in the past 10 years. According to Cetinkaya, Turkey's regulatory framework, in conjunction with the recent macroeconomic stability, has paved the way for the growth of the sector.

Islamic finance is coming to Spain, where it estimates it will find a potential market of two million clients reported Paola Del Vecchio on Ansamed.

According to financial newspaper Negocios, the Halal Institute - the centre of Islamic quality certification in Cordoba operating under the Spanish Islamic Commission - is shortly to sign an agreement with the Sa Nostra building society in the Balearic Islands for the creation of an Islamic current account.

According to market research carried out by the Halal Institute, potential clients in Spain have good earnings, a high level of loyalty to their bank and a low rate of payment default. Thanks to the agreement soon to be sealed by the Halal Insitute and Sa Nostra, Muslim residents of the Spanish archipelago will also be able to open special current accounts to collect the funds needed to be buried in the first Islamic cemetery in the Balearics, without the bank taking any commission or adding any interest to the holder's deposits.