Growth in Islamic finance will likely slacken in 2016, dropping to single digits from between 10 per cent and 15 per cent over the past decade, according to a Standard & Poor's Ratings Services report.
Governments in core
Banks in the GCC, which reported a good set of gains in the first half of 2015, could see a weakening in earnings over the next several quarters due to the knock-on effects of lower oil prices on growth and asset quality, a report said.
The current low price of crude oil and natural gas is unlikely to have a widespread impact on the credit quality of global project finance debt over the next year to 18 months, a report said.
However, if prices remain in the $50 p
Liquidity management instrument offerings remain limited in Islamic finance, but Basel III's liquidity coverage ratio is likely to create opportunities for their growth, a Standard & Poor's report said.
Most Islamic ba
Banking systems in Bahrain and Oman are more vulnerable to the recent drop in oil prices than those in the rest of GCC due to their highly oil-dependent economy where the budget breakeven price is significant, a report said.
The sharp drop in oil prices since mid-2014 is likely to lead to weakening economic, external and fiscal profiles for the region, particularly for the GCC, said a new analysis released by Standard & Poor’s.
However, of t
The global sukuk market is heading into another solid year in 2015, even though some emerging headwinds could slow its progress compared to 2014, said Standard & Poor's in a new report.
Sukuk issuance reached $116.4 billio
Standard and Poor's (S&P) has lowered the outlook for the world's top oil exporter Saudi Arabia to stable from positive and its Gulf partner Oman to negative on sliding oil prices, a report said.
However, the ratings a
Ratings agency Standard & Poor's (S&P) cut its credit rating on Standard Chartered for the first time in 20 years on Friday, citing the "tough period" the Asia-focused bank was going through and its weaker credit-worthiness
Now that oil prices have fallen to around $80 per barrel from around $100 in the past few months, the economies of the oil-exporting nations of the Gulf Cooperation Council will be tested. A key question for their future prosperity is: Have they