Salam!
We hope you have enjoyed reading our first issue of the new EPICENTRE last week. Let us know if you do have any feedback or comments. Now we bring you the second issue and hope you enjoy reading it as much as the first one.

As Eid is only few days away, we would like to take this opportunity to wish you Eid Mubarak! 

The MIFC Team


 
IFSB launches Islamic Financial Services Industry Stability Report 2018
In this year's report, the IFSB reveals that the Islamic finance industry recorded robust growth of 8.3% in 2017, and has now surpassed the USD2 trillion mark. Sukuk outstanding grew by 25.6%, while assets of Islamic funds grew by almost 19%.

In addition to providing an overview of the global Islamic financial system - including regulatory initiatives and assessments of risks and vulnerabilities - the report also has a number of box articles, namely on Oman, Brunei, the International Islamic Liquidity Management Corporation (IILM) and Malaysia's Islamic Financial Services Act 2013.

There is plenty to read and contemplate on in this report - a good distraction for many of us in between the eating and spending time with our loved ones this coming holiday season!


 
New look of Islamic Development Bank
The Islamic Development Bank (IsDB) unveiled its new brand identity that reflects modern values, strategic direction and relationship with its 57-member countries.

The Islamic Development Bank, one of the world's largest multilateral development banks, is in the process of reimagining its traditional role of a development bank. It aims to be more globally facing, placing partnerships, technology and innovation, and global engagement at the heart of the bank's modernising programme. Read more

Malaysia has a long history of working with the IsDB, with its first prime minister, Tunku Abdul Rahman playing an important role in laying the foundation of the IsDB. The IsDB opened up its regional office in Kuala Lumpur in 1994 aimed at facilitating the transfer of knowledge and sharing of development experience especially with low income member countries. Learn more



 
 
Can Islamic financial institutions help address environmental issues?
The integration of environmental and sustainability and the adoption of environmental, social and corporate governance (ESG) principles now play critical roles within Islamic finance industry's business decision.

RFI Foundation recently conducted a survey of banks, non-banking financial institutions and advisory services involved in Islamic finance to assess their performance with regard to environment stability. Its recently released a report reveals that a positive environment footprint is essential for compliance with national and international laws, principles and guidelines. It can also boost Islamic finance's reputation.

The report also highlights Malaysia as a global pioneer of Islamic Sustainable and Responsible Investment (SRI) and ESG. The SRI Sukuk Framework was introduced by the Securities Commission Malaysia in 2014, while Bank Negara Malaysia launched the Value-based Intermediation (VBI) agenda in 2017 to generate positive and sustainable impact to economy, community and environment.

Download the PRI Foundation report.


 

CIBAFI launches its Islamic Finance Survey Report
The General Council for Islamic Banks and Financial Institutions (CIBAFI) has just published two reports: Global Islamic Banker's Survey (GIBS) 2018 and its inaugural Global Takaful Survey (GTS) 2018.

The reports are based on surveys that have been conducted among over 130 CEOs of Islamic bank in 31 countries and 55 heads of takaful operators in 24 countries.

Download the GIBS 2018 and GTS 2018 reports.


 
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