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Sep022013

09:11:02 pm

Dubai Focuses On Islamic Finance As Part Of Its Economic Diversification Strategy









The NCD issue has 11 investment options and effective yield of up to 12.55 per cent per annum with an option for early closure, Muthoot Finance said in a statement. The NCD issue aims at aggregating up to Rs 150 crore with an option to retain over-subscription of up to Rs 150 crore, it said. Muthoot Finance, is one of the largest gold financing company in India, with a market share of over 20 per cent as of March 31, 2012. The entity has 4,163 branches and employs about 24,945 people. Story first published on: September 02, 2013 22:55 (IST)








While Dubai has the advantage of already being a recognised centre for banking and business, with the technical infrastructure in place, challenges remain when it comes to developing the broader sukuk market, not only in the UAE but elsewhere in the region. In part this is a general issue related to bond markets, quite apart from the Islamic finance sector. To date, the number of debt instruments issued by the government www.firstfinancialuk.com and corporations has been fairly modest, which has meant that the associated services sector including market makers and primary dealers has yet to develop fully. Assuming that hurdle can be surmounted, the specialised concerns of the sharia market increasingly come to the fore, including a need for lawyers and bankers who specialise in Islamic finance. To some extent, the Dubai Centre for Islamic Banking and Finance should help in this regard, by training people that can staff these businesses and support the development of a more robust Islamic financial services sector in Dubai. More From OBG Report Summary The Report: Colombia 2013 This will be Oxford Business Group's first report on Colombia and is due to be published this year. Colombia has maintained significant growth in recent years, with the economy having expanded 7.




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