By Rusdhi Siddiqui, Global Head of Islamic Finance at Thomson Reuters

Let me start off with a loaded question, what one word in Islamic finance is as important as Shari’ah, tax, accounting, regulation, and standardisation (STARS)?

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. Shell / Foter

Report of Kuwaiti interest in Canadian oil sands companies highlights the treasure trove of oil riches in the North American country. CONTINUE READING

More than USD76-billion of bond and sukuk debt is expected to mature by 2014, according to Kuwait Financial Centre ( Markaz ) research. CONTINUE READING

The failed Kuwait-Dow Chemical mega deal is regarded as one of the biggest examples of how the Kuwaiti parliament has hindered the country’s economic progress. CONTINUE READING

Leading journalist on Islamic finance tells why he is often ‘harsh’ on the industry and his other views

“To be persuasive we must be believable; to be believable we must be credible; (to be) credible we must be truthful.” Edward Murrow.
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Ibrahim Dabdoub’s criticism of Kuwait’s economic malaise highlights the banking sector’s frustration over lack of government reforms and lethargic private sector growth. CONTINUE READING

By Rushdi Siddiqui, Global Head Of Islamic Finance, Thomson Reuters
June 28, 2012

There were two important announcements last week concerning Islamic equity index:

1. Malaysia’s Securities Commission ‘…announced the adoption of a revised screening methodology to determine the Shariah-compliant status of listed companies …’
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By Rushdi Siddiqui, Global Head of Islamic Finance, Thomson Reuters

Islamic finance has reached it natural market share in certain markets according a recent A.T. Kearney report, hence, an early ‘amber colored flag alert’ on the need for international expansion.

Islamic finance needs to find an example of a model company, ideally from the Muslim world, which has become a global player based upon customer service, unique selling proposition, innovation, demand, and a charismatic leader.

Should it also look to the west, and examine the likes of Google, Apple, Coca Cola or Pepsi, ExxonMobil, etc.? Does it look at the management style of former GE Chairman Jack Welsh or the vision of the late Steve Jobs?
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By Rushdi Siddiqui, Global Head Of Islamic Finance, Thomson Reuters

Islamic finance is usually described as an infant market with domestic focus and supported by the government, hence, much like a baby reliant upon it parents in a home environment of nutrition, nurturing, and natural growth.

“To be competitive in the new world order, one has to think like an immigrant, create like an artisan, work like a start-up and provide service like a waitress, and continuously create a unique value add.” Thomas Friedman, Foreign Affairs Correspondent of the NY Times.

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Stuck in Customs / Foter

Here’s a list Qatar would not want to top: The World Wild Life Fund (WWF) has ranked Qatar as the country with the largest ecological footprint per capita in its latest report. The tiny country is joined by neighbours Kuwait and the United Arab Emirates as the three nations with the largest ecological footprint - far exceeding other countries. READ MORE HERE