View this email in your browser
Greetings from MIFC
MIFC epicentre, the monthly MIFC newsletter brings you again interesting developments and exciting news in Islamic finance from all over the world. In this edition, the highlight is on the latest developments in global sukuk and Islamic funds, which include among others, green sukuk and SDG financing. The MIFC team complements these updates with an infographic on global sukuk and Islamic funds statistics for January to June 2019. In the first half of the year, Malaysia continues to stay ahead of the curve as the largest domicile for sukuk and Islamic funds. A strong issuance activity of global sukuk is observed during the period with total issuance of USD87.4 billion. The global sukuk market also continued its upward trajectory with global sukuk outstanding rising to a record USD466.8 billion. In the Islamic fund market, global Islamic asset under management (AuM) reached USD83.9 billion, an increase of USD6 billion compared to 1H2018 AuM. For detailed statistics, please download the infographic.

Thank you,
The MIFC Team

Global Sukuk & Islamic Funds Statistics 1H2019
View Infographic

Malaysia’s local currency sukuk market outperforms expectations

As at the end of June 2019, the issuance value of the Malaysian sukuk market had exceeded RAM Ratings’s projection of MYR100–120 billion (USD24.28–29.13 billion) for the entire year. 
Read More

RAM Ratings revises upwards projected global sukuk issuance to USD80 bil-USD90 bil for 2019

As at end-June 2019, global sukuk issuance had reached USD72.7 bil - exceeding the lower range of RAM Ratings’ full-year projection of USD70 bil-USD80 bil for 2019. As such, RAM has revised its full-year expectation to US80 bil–USD90 bil. 
Read More

The IFSB Islamic Financial Services Industry (IFSI) Stability Report 2019 

The Islamic Financial Services Board’s (IFSB) recently issued the seventh edition of its annual flagship publication: the Islamic Financial Services Industry (IFSI) Stability Report 2019. The Report examines the implications for the global IFSI of recent economic developments and changes in the global regulatory and supervisory frameworks.
Read More

USD 123.2 billion sukuk issued globally in 2018

The International Islamic Financial Market (IIFM) issued its 8th Edition of its annual Sukuk Report. The research report provides useful information on the global sukuk market, among others structure trends, key developments and prospects.
Read More

Can Sukuk become a driver of solar and green energy growth?

This report by Deloitte and ISRA provides an in depth analysis of the key driving factors of going green in these selected groups of counties and discusses the value proposition of Islamic financing strategy, as well as present anchor transactions and structures used in those countries.
Read More

‘Surge’ in green sukuk issuance in H1 2019 

A total of USD117.8 billion in green bonds and sukuk were issued in the first half of 2019, up 48 per cent year-on-year, according to Climate Bonds Initiative. 
Read More

SDG financing gap in Islamic countries an ‘opportunity’ for Shariah-compliant finance

The SDG financing gap for the world is estimated at around USD2.5 trillion annually. The gap for member countries of the Organisation of Islamic Cooperation (OIC) which overlap with IDB's, is around USD1 trillion a year.
Read More

Sukuk Al Ijarah standard suite to be launched this year

The International Islamic Financial Market (IIFM) expects to finalise “Sukuk Al Ijarah” standard suite of documentation later this year. IIFM intends to also develop Sukuk Al Ijarah standard documentation covering securitisation market.
Read More

Malaysia can tap into larger pool of sukuk investors

The UK wants to deepen its trade ties with Malaysia particularly in Islamic capital market, and in return, Malaysia can tap into a bigger pool of international investors when it leverages on London as a platform to issue debts.
Read More

Bonds, sukuk can be part of retail investment portfolio

The Securities Commission Malaysia says it believes there is a place for bonds and sukuk instruments to be part of a well-diversified retail investment portfolio despite traditionally being regarded as solely for the wholesale market. Since introduction of direct access to the fixed income instruments in 2012, retail investment had remained low.
Read More
Islamic Finance Library
Islamic Finance Dashboard
Calendar of Events
Legal Documentation for Islamic Finance
Date: 10 - 11 July 2019
Venue: Kuala Lumpur, Malaysia

Muzakarah 13

Date: 23 - 24 July 2019
Venue: Bandar Seri Begawan, Brunei Darussalam

Recovery in Islamic Finance

Date: 24 - 25 July 2019
Venue: Kuala Lumpur, Malaysia

For more information please click here
Other News
  1. Indonesia’s government considering retail green sukuk for 2020
  2. Islamic finance has potential for 'impact investment'
  3. Pakistan raises Rs200 billion for payments to energy firms
  4. Reducing par value of sukuk increases investment in govt debt Instruments
  5. BIMB Investment Signs The United Nations-Supported Principles For Responsible Investment (UNPRI)
If you have enjoyed this issue of Epicentre or found it useful, feel free to forward it to a colleague or friend. If this newsletter was forwarded to you, and you would like to be added to the mailing list, subscribe here
Copyright © 2018 Bank Negara Malaysia. All rights reserved.
Please log on to for more information. 

DISCLAIMER: The copyright and any other rights in the selection, coordination, arrangement and enhancement of the information in this electronic newsletter are owned by Bank Negara Malaysia. No part of this electronic newsletter may be modified, reproduced or published without prior permission in writing from Bank Negara Malaysia and the relevant copyright owner. Although every effort has been made to ensure the timeliness, accuracy, adequacy and completeness of this electronic newsletter, Bank Negara Malaysia accepts no responsibility or liability for errors or omissions, if any. The information contained in this electronic newsletter is only up-to-date at the time of transmission, and is not exhaustive and may be updated from time to time on the website: Bank Negara Malaysia shall not be liable for loss or damage caused by viruses transmitted by this electronic newsletter. Bank Negara Malaysia is not responsible for any unauthorised changes made to the information in this electronic newsletter or for the effect of such changes. Bank Negara Malaysia appreciates any feedback or suggestions for improvement.