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NewHorizon is the official magazine of the London-based Institute of Islamic Banking and Insurance (IIBI), one of the world's leading independent education, training and research organisations dedicated solely to the promotion and implementation of Islamic finance in the UK and globally.

NewHorizon gives its readers an informative insight of this rapidly-developing industry, offers them food for thought with challenging articles, keeps them up-to-date on the industry’s changes, developments and events on the global scale, and publishes interviews with some of the leading specialists in Islamic finance and academic articles written by the industry’s distinguished scholars.

NewHorizon is currently issued on quarterly basis with a wide readership circle in around 105 countries.
 

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IIBI LECTURES

July 2009 preview: Would Islamic finance have prevented the global financial crisis?

July 01 2009

The lecture will be delivered by Mohammed Amin, UK head of Islamic finance at PricewaterhouseCoopers. It will take place on 13th July at 6pm at the British Bankers' Association, London.

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ACADEMIC ARTICLES

Share murabaha: its use and what to watch out for

July 01 2009

Three experts from international law firm Denton Wilde Sapte examine the structure and application of this prevalent Islamic finance tool.

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The spirit and models of takaful: meeting of minds or parting of ways?

July 01 2009

Iqbal Asaria, from Afkar Consulting, looks at the continuous development of Islamic insurance and assesses whether the industry is keeping true to its underlying principles.

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APPOINTMENTS

On the move

Appointments from April 2009 to June 2009

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RATINGS & INDICES

MSCI GCC Countries Islamic Index

July 01 2009

The performance of the MSCI GCC Countries Islamic Index vs its standard counterpart over the last year, together with sector weights and top 20 largest constituents, provided by MSCI Barra, an indices and risk/return portfolio analytics provider.

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FEATURES

Analysis - Islamic working capital financingsubscription required

July 01 2009

Dr Salman Khan, NIBAF-certified Islamic finance practitioner and head of Shari’ah of Abu Dhabi Islamic Bank in Dubai, examines the issue and looks into moving beyond murabaha, tawaruq, sale and lease back and covered drawing structures.

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Analysis - Understanding gharar

July 01 2009

Riba and gharar prohibitions are fundamental pillars of Islamic finance. Yet it seems that there has been much more focus on the former, even though both are equally essential for understanding the industry. Beata M Paxford, Poland-based lawyer and PhD candidate at Warsaw University, attempts to redress the balance.

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Analysis - Sukuk: where next?

July 01 2009

Trevor Norman, Volaw's director of Islamic finance and funds group, asks how the sukuk industry will respond to the dip in 2008.

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POINT OF VIEW

At the crossroadssubscription required

July 01 2009

The current financial crisis is a time for taking stock of where Islamic banking and finance is heading, argues Dr Humayon Dar. Should we be focusing on Shari’ah-based, Shari’ah-compliant or Shari’ah-tolerated products, he asks.

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Islamic asset management: myth or reality?

July 01 2009

A back-water of Shari’ah finance for a long while, can asset management finally become mainstream? John A Sandwick, an Islamic asset management specialist based in Switzerland, explores this issue.

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FOOD FOR THOUGHT

Interest rate risk: a threat to the Islamic banking system?

July 01 2009

IIBI would like to thank everyone who responded to the controversial issue of interest rate risk and its impact on Islamic finance. A lot of responses were critical of the Islamic finance industry as it stands today, accusing it of being nothing more than an adapted version of its conventional counterpart. The debate continues.

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BOOK REVIEW

Shari’ah Law: An Introduction

July 01 2009

Author: Mohammad Hashim Kamali Publisher: Oneworld Publications (2008) ISBN-13: 978-1-85168-5653

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