The latest Top 25 country ranking of the 2008 Top 500 Islamic financial institutions listing demonstrates not only robust growth among the major countries but also the key development of Islamic finance in a number of relatively new markets, such as Indonesia, Qatar and the UK.
The success of the commodities financing and investment markets have suffered setbacks as a result of the current global crisis. However, a panel of experts drawn together by The Banker believe demand is unlikely to diminish in the long term and that markets will emerge stronger – if politicians continue to back free trade.
While the Institute of International Finance (IIF) suggests that capital flows to emerging markets have dropped sharply in recent weeks due to the strains on global credit markets, its latest report shows that private capital flows during the past 15 months have been maintained at a remarkably strong pace.
The ongoing credit and capital market crisis has served as a reminder that markets in distress stop functioning normally. The gyrations of US treasury bill and note yields show there may not be a market at the expected price when needed. This affects all market participants, but particularly central banks. By Ousmène Jacques Mandeng.
Even before the dust has settled after the biggest banking blow up in 80 years, the first signs of what a post-crisis world will look like are starting to emerge. The winners in banking will be those that recognise the changes first and work out to how to position themselves correctly.