WORLD - CAPITAL MARKETS - 15% sukuk growth seen

www.thestar.com.my - KUALA LUMPUR: The Islamic finance industry will grow 15% annually in the next decade, after syariah- compliant banking assets surged in Asia in the past year, according to a global standards-setting body.
Holdings in Malaysia rose 27% to RM344bil in the 12 months to April 30, according to the central bank. In Indonesia, they climbed 43% to 144.3 trillion rupiah (US$15.2bil), official data show.
Rising consumer demand for banking services was helping drive the market, Jaseem Ahmed, secretary general of the Kuala Lumpur-based Islamic Financial Services Board (IFSB), said in a June 21 interview.
Government spending programmes in the key Islamic centres of Asia and the Middle East were bolstering economic growth and bringing in more funds for lenders, Rafe Haneef, chief executive officer at HSBC Amanah Malaysia Bhd, said on Tuesday. Industry assets may reach US$1.1 trillion in 2012, compared with US$826bil in 2010, according to a report from Ernst & Young LLP.  (source)

WORLD - TAKAFUL - Analysis - Slower takaful growth prompts strategy rethink

www.reuters.com - (Reuters) - Growth of the takaful or Islamic insurance business is slowing, industry statistics show, increasing pressure on the sector to boost efficiency, roll out new products and explore new markets.
Takaful, which has its core markets in the Gulf and southeast Asia, is one bellwether of consumer appetite for Islamic finance. But profitability has been hit by fierce competition and rapid growth of workforces at takaful providers in past years.
"A key strategy is to scale up family takaful," Shyam Sankar, regional head of insurance sales through bank channels at Bahrain-based Medgulf Allianz Takaful, told Reuters.  (source)

WORLD - REPORTS - TAKAFUL - Takaful Premium Jumped 19% in 2010 to $8.3 Billion, E&Y Says

www.bloomberg.com  -Global Islamic insurance contributions surged 19 percent in 2010 to $8.3 billion helped by Saudi Arabia, the world’s biggest oil exporter, which made up more than half the industry, an Ernst & Young report said.

The six-nation Gulf Cooperation Council, which also includes the United Arab Emirates, Qatar, Bahrain, Oman and Kuwait, made $5.68 billion of Islamic insurance or takaful contributions in 2010, and South East Asia $2 billion, according to the World Takaful Report 2012 e-mailed today.  (source)

WORLD - PUBLICATIONS - Ernst and Young - World Islamic Banking Competitiveness Report 2011-2012

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INDONESIA - TAKAFUL - Takaful Insurance Market in Saudi Arabia to reach around USD 7.7 billion in 2012 - Indonesia grows 67 %

KSA to be the First Worldwide with a Market Size of USD 25 billion in 2015. The size of the global Takaful insurance market is of around USD 12 billion for the current year, and it is expected to reach around USD 25 billion within 2015. Furthermore, 49% of the total insurance premiums will be in the Gulf Cooperation Council (GCC) countries, while the size of Takaful insurance market will reach around 1% of the global insurance market, with the possibility of development by 20% annually.

The Kingdom of Saudi Arabia is at the top of the world in terms of the growth of Takaful market, where the size of Takaful insurance market is expected to reach USD 7.7 billion by the end of 2012, after reaching nearly USD 5 billion in the first quarter of this year, according to recently published reports. (source)