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Islamic finance forecast to grow as main markets recover


Islamic finance forecast to grow as main markets recover
Muzaffar Rizvi/Dubai
Filed on May 3, 2021
The ratings agency forecast global issuance of Islamic bonds, or sukuk, to reach $140-155 billion this year, up from roughly $140 billion in 2020.
File photo
Global Islamic assets expanded by 10.6 per cent last year against growth of 17.3 per cent in 2019 as the pandemic disrupted the rising trend due to slowdown in global economy
The global Islamic finance industry is expected to grow 10-12 per cent during the 2021-22 due to increased sukuk issuance and a modest economic recovery in the main Islamic finance markets, says a latest report. ....

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UAE banks well-positioned despite rise in NPLs

UAE banks well-positioned despite rise in NPLs
khaleejtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khaleejtimes.com Daily Mail and Mail on Sunday newspapers.

James Swanston , Mohamed Damak , Capital Economics , ஜேம்ஸ் ஸ்வான்ஸ்டன் , மொஹாமெட் டமாக் , மூலதனம் பொருளாதாரம் ,

Pandemic and property prices weigh on UAE banks says S&P


DUBAI: The COVID-19 pandemic, lower oil prices, and continued pressure on the real estate sector have increased risks for UAE banks, S&P Global Ratings said in a report on Sunday.
It expects the sector’s problem loans to increase further once current regulatory forbearance measures are lifted and banks start to account for the impact of the economic shock. However the process is expected to be gradual, minimizing the overall impact.
After the pandemic started, the UAE Central Bank (CBUAE) implemented a Targeted Economic Support Scheme (TESS), which helped ease the pressure on corporate issuers and small and mid-size enterprises, S&P said. But it did not reduce credit risk on the banking system’s balance sheet. ....

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