There is an ever pressing need to disseminate high quality and comprehensive information about Islamic finance to both those within and outside the industry. Islamic finance is still a niche industry and only a small segment of the global financial market but with its unique paradigms and value propositions, it has the tools to imbue the markets with an ethical direction, accompanied with the profit maximising motif. Edbiz Consulting is proud to offer ground breaking publications containing profound and incisive analysis of the Islamic finance industry. Our current publications are written by the industry, for the industry.
Global Islamic Finance Report (GIFR)
The Global Islamic Finance Report (GIFR) is a fledgling yet successful annual report, appraising and analysing the state of the industry for the given year. It sources contributions from leading practitioners and thinkers from the industry, who provide incisive analysis and up to date information. Not only does the GIFR appraise the industry, it tackles key issues, with each report having a central theme. The GIFR intends to be a leading resource book for all those with an interest in Islamic finance. Each GIFR is divided into three sections:
- review of industry segments
- a concentration on an industry sector
- review of the Islamic finance industry throughout the world
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Islamic Wealth Management Report
The Islamic wealth management industry has become the “new frontier” for the global Islamic finance industry with the growing number of Islamic high-net worth individuals (HNWIs). In recent years, Islamic wealth, asset and portfolio management are some of the fastest growing areas of international Islamic finance.
The growth prospects of Islamic wealth management industry are driven by a number of factors such as younger and more affluent Muslim population, increase in consumer demand for Shari’a-compliant public pension and provident products and the increasingly role of takaful in the wealth and management industry.
The creation, preservation and growth of wealth is one of the key pillars of the Islamic financial system. Islamic approach to wealth takes into account social justice. Hence, there is an emphasis on the importance of circulation of wealth in any community in order to ensure social justice. There are three factors affecting wealth management: acquisition of wealth, preservation of wealth and consumption of wealth. In this regard, Islamic perspective on wealth cannot focus on merely wealth accumulation and management without finding ways to spread asset/capital ownership.
But wealth management is also crucial at the macro level. It becomes imperative for Muslim-majority countries that are highly dependent on natural resources (such as oil and other fossils) to manage sovereign wealth in such ways that adverse movement in prices of these natural resources do not grossly affect government budgets and subsequently, the business climate of the country.
The Islamic Wealth Management Report 2016 highlights the above issues in greater details. The report contains 16 chapters, including a global survey on the knowledge of individuals on Islamic wealth management and their attitude towards it (demand side analysis) as well as the practices within the Islamic wealth management industry (supply side perspectives).
Amongst the key highlights of the report:
- Global wealth stands at US$107.3 trillion with Islamic wealth in the MENA region reaching US$3.8 trillion.
- A significant proportion of Islamic wealth originates from the non-Muslim world.
- Muslims do not share global wealth proportionate to their share in the global population.
- Islamic asset management industry is estimated at US$157 billion, of which only US$60 billion worth of funds have some meaningful size.
- 70% of GCC-based wealth is invested abroad rather than in region, which presents a major opportunity and challenge for Islamic wealth managers.
- Almost 70% of Islamic finds are held in Saudi Arabia and Malaysia due to their accommodative regulatory environment and a propensity to issue in local currency by a large investor base.
ISFIRE Magazine (Islamic Finance Review)
Islamic Finance Review (ISFIRE) is a quarterly, magazine, which is unique for its articulation of original ideas, clarification of complex issues, and promotion of leading figures in the Islamic finance industry.
Succinct and artistic, without compromising on quality, ISFIRE provides its readers with necessary information to understand and appreciate the Islamic finance industry better.
We understand the importance of disseminating information to the various segments of the market and we look towards building this element of our business.