Singapore, June 23rd 2009 — Opalesque Islamic Finance Intelligence (OIFI) has been jointly developed by Opalesque and Amsar Partners, an independent Islamic finance consultancy, which brings together a multi-disciplinary team that includes Bernardo Vizcaino, CAIA, Managing Director; Nikan Firoozye, Ph.D., Director of Shariah Structuring; and Khalil Jarrar, J.D., Director of Jurisprudence. They combine highly regarded financial, academic and research backgrounds with a global industry network. 

The publication (19 pages of intelligence) can be downloaded here: http://www.opalesque.com/OIFI/OIFIJune09.pdf.

New readers can register here http://www.opalesque.com/index.php?act=registration and select from a menue of eleven specialized publications.

Islamic Finance is facing uncharted territory

Opalesque Islamic Finance Intelligence arrives at a time when Islamic finance is facing uncharted territory – several efforts are under way to jump-start convergence/unification of standards, crystallize demand for time/cost effectiveness, improve liquidity in its secondary markets, as well as the promulgation of industry best practices. In addition, the industry faces great debates a even more fronts – from market gaps, distribution networks, risk & compliance concerns, to structural question marks. 

The range of topics is vast – Islamic finance products now extend to all asset classes (from exchange traded funds to private equity vehicles), the industry is ever-evolving in its core markets (the GCC and Southeast Asia) and product cross-pollination with conventional fund houses is an emerging trend. The maiden edition of OIFI further provides an overview of Islamic contract law – detailed by Khalil Jarrar.  The Editors also debate over the outputs of the transaction: practitioners share their thoughts in the Discussion Forum on the use of conventional benchmarks (i.e. LIBOR) by Islamic banks, whilst Toby Birch of Birch Assets Ltd scrutinizes the industry pitfalls in the Allocator Interview.

Up to 20% growth per annum

Market awareness on Islamic Finance has skyrocketed in recent years – experts once touted the existence of 60 Islamic equity funds whereas the industry now boasts a universe of well over 700 Shariah compliant investment products. Growth projections usually land between 15 to 20 percent per annum, yet some of the largest Muslim countries (i.e. Indonesia, Egypt and India) remain untapped. A comprehensive product range is unheard of (in stark contrast to the conventional world), yet this bestows the industry with endless prospects. Opalesque sheds light on these by analyzing Islamic fund of funds in  the Industry Tables section.

CONTENT in detail: 

Introduction: A Primer on Islamic finance Featured Resource: Islamic Finance Resources blog and online community

Featured Structure: Tawarruq: Shariah Risk or Banking Conundrum? Nikan Firoozye, Ph.D.

Manager Interview: Brint Firth, Javelin Investment Management 

Portfolio Interview: Four Frustrations of an Islamic Financier: Toby Birch, Birch Assets 

Opinion Column: Enforcing Islamic Contracts (Lex Islamicus) in English Courts: Khalil Jarrar, J.D. 

Discussion Board: The Use of LIBOR by Islamic Banks 

Industry Snapshot: Islamic Fund of Funds, a Rare Breed Bernardo Vizcaino, CAIA

Opalesque Islamic Finance Intelligence is a free subscription – new readers can register here:

http://www.opalesque.com/index.php?act=registration and select from a menue of eleven specialized publications. (Note that while most Opalesque publications are free, readers can also subscribe to three premium/paid publications). 

Opalesque also offers a free DAILY Islamic Finance Briefing, which you can order at the link above as well.