PRESS RELEASE

Kuala Lumpur, 1 November 2016 

 

ISRA And Thomson Reuters Launch The Second Series Of “Islamic Commercial Law Report” With A Special Focus On Islamic Capital Markets

 

The International Shari’ah Research Academy for Islamic Finance (ISRA) and Thomson Reuters today launched the second series of “Islamic Commercial Law Report”.

 

This year’s report, which comes with a focus on Islamic capital markets, was launched by the Deputy Minister in the Prime Minister’s Department (Religious Affairs), YB Senator Dato’ Dr Asyraf Wajdi Bin Dato’ Dusuki at the International Shari’ah Scholars Forum (ISSF), organised by ISRA and the Islamic Research and Training Institute (IRTI) in Sama Sama Hotel, Kuala Lumpur on the 1st of November 2016.

 

 The Islamic finance industry has continued to be one of the fastest growing segments of the global financial industry, with estimate of the current market size of USD2.0 trillion in assets, and is expected to reach USD3.2 trillion by 2020.

 

The fundamental concepts, innovation and ongoing harmonization in the global Islamic capital markets have placed the industry in a strong position. One of the most developed instruments in today’s capital markets is sukuk, which is a key instrument in global markets and has been extensively used outside its traditional markets, indicating the acceptance of Shariah-compliant products worldwide.

 

Despite this strong growth, applied Islamic commercial law is not in tandem with the fast developing financial sector. The gap is even more critical in Islamic capital market applied research. The report aims to highlight contemporary debated/hot/ pressing issues and encourage dialogue between Islamic legal experts and market professionals, to develop a comprehensive ecosystem which delves into the Islamic capital market industry.

 

To address this gap, ISRA and Thomson Reuters proudly present the Islamic Commercial Law Report 2017, which highlights key areas including frameworks that are fundamental in shaping the development of a well-structured Islamic capital market.

 

Prof. Dr. Mohamad Akram Laldin, Executive Director of ISRA, said: “The publication of this year Report is timely as Islamic capital markets are showing growth and resilience due to new market entrants, improved level field competition and sound regulatory framework. The rigorous and thought provoking ideas discussed in the Report placed itself as a key reference for stakeholders especially on Shariah issues related to Islamic capital market.”

 

Meanwhile Nadim Najjar, Managing Director-Middle East and North Africa, Thomson Reuters, said: “The report comes at a great time to further spread awareness on Islamic capital markets, as instruments such as sukuk are moving outside their traditional markets. There are new countries entering the sukuk market every year, and we have recently seen a number of African countries issuing sukuk such as Ivory Coast, Togo and strong indications coming from Kenya. With more research available in areas such as concepts and innovation, Islamic finance and its instruments can expand and serve a wider range of countries. To play a role in bridging the knowledge gap, Thomson Reuters is proud to partner with the International Shari’ah Research Academy for Islamic Finance (ISRA) to present the second Islamic Commercial Law Report.”

 

The report brings together more than 20 market experts from 10 different sectors around the world to share their knowledge and experience in Islamic capital markets. The report covers key areas including fundamental concepts in the Islamic capital market, its trends and developments in recent years, and a special focus on key market players. The Report also highlights the latest innovations in Islamic capital markets, interpretations of Shariah law and innovation in Islamic legal thought. This will ensure that stakeholders are up to date with the latest development in this space as well as its impact in modern society.

 

The rigor in the output of the Report will be of tremendous benefit to regulators, policymakers, Islamic finance professionals, practising lawyers and barristers, researchers and academicians.

 

To read more about the report, please visit,

http://www.isra.my/

 

http://zawya.com/mena/en/business/islamic-finance/