Rise of Islamic Markets Considered by Expert PanelSource: www.export-egypt.com 10/30/2014, Location: Middle East |
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The rise of Islamic capital markets and the vast potential that still exists for further expansion by utilizing new financing platforms, such as crowdfunding, was discussed by an expert panel on the final day of the 10th World Islamic Economic Forum (“WIEF”).
As demonstrated in advancing the UAE’s economy over the last decade, Islamic financing promotes sustainable, inclusive growth by creating a virtuous circle in which the capital markets are enhanced by economic progress, which then itself promotes further investment into society. The relationship between the markets and the people has been demonstrated in detailed research which shows that, in the long run, a 30% growth in equity markets can lead to 20% growth in GDP per capita. With Islamic financing being based upon the highest values and ethics, and a goal of promoting a fairer and more balanced society, it was agreed by the panel that Islamic capital markets are more efficient at mobilizing funds to support sustainable growth that traditional markets. The panel explicated how the global proliferation of Islamic financing can be developed in the Muslim world and beyond, which in turn can have widespread benefits within society. In H1 2014, the global sukuk markets reached $286.4bn further demonstrating the world’s confidence in Islamic products. One innovative development which was discussed by the panel in considerable depth was the role and future of crowdfunding. A financing platform which is also Shariah-compliant and has become increasingly popular in both E |
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