Is Islamic Finance an Islamic Finance?
Islamic Finance is of course from Muslim countries, although some traditional and western banks now offer some Islamic products. In these cases, the term “Islamic Window” is used, where all activity related to Islamic finance in a conventional bank is confined to avoid any risk of making the transaction unclear in case of a mixture of activities.
So, No Islamic Finance is not a finance made by Muslims for Muslims! Provided that it respects the principles already mentioned, the prohibition of Riba, the Sharing of Losses and Profits … validated by a Shari a board, Islamic finance can be proposed by a conventional bank under certain other strict ions conditions, and of course c Is a Finance Open to All!
Here are some examples:
Credit Agricola Asset Management launches its first Shariah-compliant SICAV
Benefiting from over 15 years of experience in managing Shariah-compliant funds, Credit Agricola Asset Management Group (CAAM Group) launches CAAM Islamic, its first SICAV invested in accordance with the principles of Islam. This UCITS III SICAV incorporated under Luxembourg law, registered in France, aims to provide individuals and institutions with sub funds invested in different asset classes that strictly comply with the Shariah rules with 3 compartments available in France: CAAM Islamic BRIC Quant, CAAM Islamic Asian Active Equity Ex-Japan and CAAM Islamic Multimanager Global Equities.
Developed in the late 1990’s, Islamic funds incorporated the Shariah rules into the construction of investment portfolios. These rules include:
The bank Society General is investing 100% halal
In search of new markets, the French bank develops Islamic financial products The development of Islamic finance is attracting more and more Western banks. SGAM AI, a subsidiary of Society General, is launching a new offer for the Middle East but also for Europe. The proposed investments are guaranteed “100% halal”. “The goal of SGAM is to expand its product line to take advantage of this market. We are mainly targeting the Middle East, but Europe is also a trade objective.
These funds are primarily intended for institutional clients (pension funds, insurance companies …) and to wealthy businessmen whose money is managed by private banks, “explains Meta Marinovic communications manager for SGAM AI. However, these Islamic investments are still rarely marketed in the West. The Middle East now concentrates the bulk of this market with more than $ 300 billion. An inestimable financial windfall fueled by oil money. South Asia represents 60 billion and Europe 5 billion.
BNP Paribas: Launch of a tracker on an Islamic index
With the launch of BNP Paribas Islamic Asset Management Malaysia Sdn Bhd, BNP Paribas Investment Partners will launch BNP Paribas Islamic Asset Management Malaysia Sdn Bhd. BNPP IP, particularly in the Middle East and Asia, through:
Partnerships such as SAIB BNP Paribas Asset Management in Saudi Arabia.
The launch of dedicated Islamic products such as BNP Paribas Islamic Equity Optimizer Funds and EasyETF DJ Islamic Market Titans 100.
Of advice to i-VCap Sdn Bhd for the listing of the MyETF Dow Jones Islamic market Malaysia Titans 25, the first Islamic ETF in Asia.