Muslims Mourn Gold Price

A major announcement in Islamic finance has been sidelined by a sharp turn in market conditions. Guidelines by industry regulators now define gold-use standards for Shariah-compliant banks and asset managers. The news may lead to broad-based recalibration of the gold market; China and India traditionally exert a dominant influence. But that notion is on hold, … Continue reading Muslims Mourn Gold Price

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What Next for American Muslims?

We argue that much of the campaign rhetoric about American Muslims will subside to a political murmur. Trump now has an exhaustive plate of responsibilities that were never part of the election process. Expect his so-called Muslim policy to be promptly delegated to his homeland security team, potentially led by Rudy Giuliani. The former New … Continue reading What Next for American Muslims?

Hunt for Yield Jolts Sukuk Market

The financial services industry is bereft of sukuk-issuance news this year, reflecting sober demand for so-called Islamic bonds from institutions based in the Islamic world. Yet we expect to see greater enthusiasm for the asset class among local and regional investors. Consider the worldwide scramble for yield and the attendant focus on infrastructure investments. With … Continue reading Hunt for Yield Jolts Sukuk Market

Entrepreneurs Score With Burkini Effect

While France battles the burkini on its beaches, the halal fashion industry benefits from an unexpected boost. The Australia-based company that helped to pioneer the swimsuit style claims that sales are skyrocketing. It seems that French authorities have unwittingly created widespread awareness of the burkini among consumers at a time of peak seasonal demand in … Continue reading Entrepreneurs Score With Burkini Effect

Retail Sales Reinvented in Islamic World

Expressing religious affinity in the marketplace is seldom controversial, regardless of faith orientation. But percolating disposable income across the Islamic world is lending support to curious forms of commercialization, including halal cat food and halal house paint. Our interpretation is far more benign than rising fundamentalism. Rather, manufacturers are trying to use halal certification to … Continue reading Retail Sales Reinvented in Islamic World

Islamic Bankers Recalibrate Expectations

The need to rationalize capacity in the Islamic finance industry is likely to be one side effect of a more deliberate economic setting worldwide. In particular, we expect to see further dislocations in the sukuk business, as issuance falters. That outlook contrasts with the industry-centric view that the asset class will grow continuously. We focus … Continue reading Islamic Bankers Recalibrate Expectations