Ikuti situasi yang berbeza pada waktu yang sama ketika krisis kewangan AS yang merebakkan virus ke seluruh negara.
""The Islamic bank has a fantastic year, the underlying trend of Islamic banking businesses within ABC is very good," Smith a senior official of the Arab Banking Corporation. (Reuters)
"Sukuk has now become a very popular product," said Nor Mohammad. (Reuters)
"Pada ketika seperti sekarang, apabila dana daripada Timur Tengah kerugian wang di AS dan Eropah, mereka akan digalakkan datang ke Malaysia yang merupakan salah satu daripada pusat perbankan Islam terbesar di dunia," kata Nor Mohamed.
Sebagai tambahan kepada pelaburan portfolio, katanya para pelabur Timur Tengah boleh juga melabur dalam projek pembangunan yang sedang dilaksanakan di Malaysia dan tidak sebaliknya membeli aset-aset ikon di AS dan Eropah yang telah pun mengalami banyak kerugian dari segi nilai.
Bernama
Rasheed al-Maraj, the governor of Bahrain's Central Bank, believes the mortgage crisis could encourage weary investors to throw their weight behind Islamic assets and stocks given the collapse of Western asset prices.
"Maybe Islamic banking will be a safe bet for them," he said.
"I think opportunities exist in the United States and Europe as a result of this financial distress."
Islamic Banks Withstand Mortgage Crisis
MANAMA — Islamic banks have succeeded where all others have failed, withstanding the US subprime mortgage crisis which left global markets rattling.
Duncan Smith, the head of the Corporation's Islamic operations, said a focus on regional business and efforts to ensure products complied with Shari`ah helped shield his unit from credit-market losses.
The bank's 2007 earnings from conventional non-Islamic departments fell to $125 million from $202 million in 2006.
The ongoing American subprime mortgage crisis, which is making international headlines, was sparked off last year when a steep rise in the rate of foreclosures caused more than 100 lenders to fail or file for bankruptcy.
The crisis had a domino effect on the US economy and stock market, which in turn affected almost all stock markets worldwide as early as last month.
Global banks have written down more than $80 billion in credit market losses since October alone as defaults on subprime mortgages triggered a credit crisis that threatens to tip the US economy into recession.
None of Malaysia's Islamic banks have been hit by write-downs resulting from the crisis and the resulting global credit crunch, second finance minister Mohamed Nor Yakcop told the three-day summit in the Bahraini capital Manama.
He said holders of sukuk or Islamic bonds have been shielded from the worst effects of the subprime mortgage meltdown.
Instead of interest, Islamic banks operate on the principle of sharing risk and reward among all parties in a business venture.
Growing
"Sukuk has now become a very popular product," said Nor Mohammad. (Reuters)
Economists say the global credit crunch triggered by the subprime crisis has spurred greater interest in Shari`ah-compliant financing.
"There is a feeling that the way Islamic finance is structured — the lack of freedom in leveraging, the need for real assets — that there will be some who will find Islamic financing interesting," said the Malaysian official.
He said interest in financial instruments that comply with Islamic prohibitions against investing in sectors such as alcohol, pornography and gambling was starting to emerge in China and South Korea.
"Sukuk has now become a very popular product," Mohamed Nor stressed, adding that officials from Hong Kong had consulted with Malaysia on Islamic finance.
Giant banks like America's Citigroup, Britain's HSBC and Germany's Deutsche Bank recently launched Shari`ah-compliant branches.
A Deutsche Bank executive told Reuters that it was helping US and Canadian firms to sell Islamic bonds in Malaysia this year worth between $300-500 million in ringgit.
Having about 76 percent of the world's Islamic bonds, Malaysia has been promoting itself as a hub for Islamic finance but faces rivalry from neighboring Singapore and Brunei.
The Islamic banking industry, which began almost three decades ago, has made substantial growth and attracted the attention of investors and bankers across the world.
There are an estimated 300 Islamic banks and financial institutions worldwide whose assets are predicted to grow to $1 trillion by 2010.
Sementara itu laporan-laporan yang semakin menjadi situasi panik dan serabut
Ketika banyak bank konvensional menuju era muflis, Bank-bank Islam semakin teguh mempromosikan produk-produk yang mempunyai daya tahan daripada tempias krisis kewangan global.Apakah keunikan Sistem Kewangan Islam hingga menjadi bahan alternatif yang dicari-cari oleh para pelabur masa kini?
"The market is still panicky," Credit Suisse strategist Satoru Ogasawara told Agence France-Presse (AFP).
"Many people are simply dumping shares.
"There is all-out panic," Adrian van Tiggelen, ING senior strategist in The Hague, told Agence France-Presse (AFP)AP
"(Europe is facing its) first real financial crisis," Jean Pisani-Ferry, director of the Bruegel research group in Brussels, told The New York Times.
"And it's not just any crisis. It's a big one."
Bank on this: bank failures will rise in next yearSunday October 5, 5:06 pm ET
By Michael Liedtke, AP Business Writer
Financial crisis likely to yield biggest banking shakeout since savings-and-loan meltdown
SAN FRANCISCO (AP) -- Here's a safe bet for uncertain times: A lot of banks won't survive the next year of upheaval despite the U.S. government's $700 billion plan to restore order to the financial industry.
Panic Factor
The experts blame the meltdown of the world markets over Lehman to a "panic" factor.
"When a crisis of that scale happens and stock markets around the world crashes, investors, even in countries that should not be much affected by the crisis, start to panic," Awad said.
"Consequently, people suddenly lose faith in the stock market and start selling their assets," he explained.
"The result is that the local stock market in a country as far as Egypt for example falls."
Awad says that by the end of Tuesday's sessions, stock markets across the energy-rich Gulf resisted further large losses.
"When the crisis happened, foreign investors in the Arab and Gulf region sold their assets in order to overcome the losses back home," notes Elwani.
"When the local investors saw that, they panicked and sold their assets too. And the result was the decline in almost all the markets."
Sumber:IslamOnline.net & News Agencies
Islamic Bank
Conventional Bank
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