From Wall Street to Dubai – a profitable property of Islamic banking

Symposium key financial players than recent (March 2nd, and 3rd, 2010) in the posh "King Hussein Bin Talal Convention Center" on the shores of the dead sea, circa 25 miles.

The event received media attention from Western junk news outlets; however, closely Eng cargo in banking core global decisions announced closing statement.

They were right to do so.

The first collection and Islamic finance and investment forum in the Middle East, took place in Jordan economically healthy and stable political ally of the West in the area of the region vulnerable-with the highest quality of life in North Africa and the Middle East, according to the "quality of life index prepared" 2010 ", Journal of international life".

Another essential factor is listening lies in the fact that the participants were among the cr cr me me della Islamic finance market, and a group of more than 350 from bankers and experts from 15 countries leading the transformation of the economic sector shifts likely to see strong growth in the foreseeable future.

An overview of Islamic banks from their understanding of the dynamics of the industry.

Islamic banking — largely Islamic finance-deeply rooted in Islamic Economics and hold legislative corpus ruled encapsulates the religious teachings of Islam.

Sharia-or wires to known financial mwamalat (Islamic transactions rules)-allows for financial intermediaries to exercise any form of economic activity as long as no charge interest (usury) and distance itself from companies involved in undertakings (Haram) are prohibited.

Strongly reinforces the Shariah exchange risk between the investors and economic transactions secured physical assets such as land or machinery but derivatives outside the law.

Derivative product is a tool of financial instruments (known as core), events or other circumstances were mostly used to cover ... or speculative profit. recent upheavals in global capital markets socioeconomic walherg after owe much of their type of credit default swap called derivatives (CDS).

Foreigner views to the Muslim world may find harmful law restrictions for sustained economic development because the so-called Islamic jurisprudence as Deputy (gambling, adult movies list, alcohol, etc.) play a vital role in as many countries but also social and temporal concept can say.

However, many observers now that restrictions in Islamic finance has successfully protected Sharia-compliant institutions from recent economic collapse while keeping cash safes are spread.

There are several factors support the prosperity of Islamic financing, including deposits from oil-rich countries resident inhabited, and many infrastructure projects and the emergence of a large middle class.

Estimated on the basis of the UK international financial services London "," Singapore and grew by 35% to $ 159 billion between 2007 and 2008, although the industry "pause for breath" in 2009 amid ongoing economic apathy.

According to Mohammed Abu hamour King, Islamic banking sector experienced an annual growth rate of 10-15 per cent and there are currently over 300 Islamic banks in over 50 countries, with large concentrations in Iran, Saudi Arabia and Malaysia.

Most of these banks and financial intermediaries are owned by the shareholders ' but the specialized branches of Western banks full "regular service" inhabited by increasing areas of Islamic banking area.

HSBC, Islamic finance arm of HSBC, example of this trend.

Islamic banking is very profitable and increase foreign interest clearly supports the idea that the industry is bound to expand just emerging Nations within the Islamic world willing and able to use the cash reserves has giant structural development of key sectors of their economies.

However, many outstanding issues that continue to cripple the Islamic finance industry and prevent exceeded quota 1% currently in global banking.

The first relates to the need for Islamic banks to hedge risk strategies-particularly those participating in the common currency transaction instruments compatible with organizational principles. professionals should be creative because derivatives hedging tool, forbidden by Islamic law. progress in this area are still shy.

Islamic scholars and secondly, the need to develop and cultivate a homogeneous group of legislation to financial agents to avoid depriving asymmetric market too large this task because Islam several schools of thought and differing interpretations of some religious concepts can often prove insurmountable obstacles.

Sunni Islam is the largest branch of Islam with 85 percent of the world's 1.5 billion Muslims despite the diversity of the school's own ideas often creates a diversity of views.

If a bank located in Saudi Sunni "find themselves at a disadvantage against Iranian Bank regulatory ruled teachings or financial institution in Oman Kharigiti, then obviously fundamental market imbalances will appear.

Thirdly, the sector needs to harmonize practices in growth. unification is needed not only in the organizational control but also in the IASB and risks, both internally (within the Islamic world) and externally (West towards or other regional financial areas). a practical example would be seeking compliance b I.F.R.S. (IFRS) and the Basel banking agreements.

Finally, you will need the Islamic banks to sophisticated and targeted communication campaign designed to educate us and European skeptics regulators (primarily), as well as potential customers in the Western hemisphere. this effort will be central in transforming public perception of quality and positioning of products and services, and to erase the stigma that may have placed the geopolitical events previously (and current) to "brand".

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I'm a professional with experience managing finance risk solid and diversified financial services have participated in the capital markets for several years now, and during my work but also as a trader and just as someone really fascinated by the intricacies of financial instruments and fluent in two languages I speak and write French.

I like to think about events that seem remote, synergetic and my thinking aimed the hardships suffered also build giokonomix indispensable cohesion and social peace to meet our collective destiny. import of my views are topics of strategic affairs between North and South, nature and the capacity of social wealth on bail in advance sustainable economic, structural originality of poverty in third world countries (so-called), and finally, the changing dynamics displayed by awakening the (so-called) emerging economies.

I'm a graduate degree in business administration from Rutgers University Graduate School of business in New Brunswick, New Jersey, CPA (Accountant) .waits held five other professional certificate in management and financial control, audit and investment analysis.

In addition, completed undergraduate studies in Monroe College in New York City, culminating in two Bachelor of accounting and business management.

Finally, enjoy Yoga reading and competitive respectively (long distance), build muscle, and martial arts traditional Chinese and beach ... I love listening to salsa, Zouk and R&B music spiritual melodic types. believe it or not, is my favorite movie of all times "Blues Brothers".

(Read more about me at http://marquisc.wordpress.com.)