---------- Forwarded message ---------- From: Middle East Global Advisors <[email protected]> Date: Mon, Aug 10, 2015 at 12:52 PM Subject: Silk Road Sukuk & Interview with BRAC International To: [email protected]
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[image: Middle East Global Advisors logo] 10th August 2015 [image: Finance Forward - Your definitive source of insights & intelligence on the financial world and the political economy of the MENASA region] Home <http://megaevents.us3.list-manage2.com/track/click?u=4bccbea900e54b305a9c6a37c&id=98a9a8a3ba&e=f901ca2b34> About <http://megaevents.us3.list-manage.com/track/click?u=4bccbea900e54b305a9c6a37c&id=8067b0979f&e=f901ca2b34> Insights <http://megaevents.us3.list-manage1.com/track/click?u=4bccbea900e54b305a9c6a37c&id=2e02ca41d0&e=f901ca2b34> Blog <http://megaevents.us3.list-manage1.com/track/click?u=4bccbea900e54b305a9c6a37c&id=ca5dd31fda&e=f901ca2b34> [image: Hero Image] *FAST FINANCE <http://megaevents.us3.list-manage2.com/track/click?u=4bccbea900e54b305a9c6a37c&id=028f9300d7&e=f901ca2b34>* As Brent crude falls below the $50/bbl, pressure rises on many oil exporters to finance rising budget deficits to preserve their investments saved up during years with higher prices. Saudi Arabia, in particular, is likely to be active in bond issuance and its SR 15bn ($4bn) issuance in July was reportedly a test issuance of a program that could expand to SR 100 billion ($27 billion) through the end of 2015. This would allow the government to tap the ample liquidity held in the banking system, where lending is limited by conservative bankers and tight regulations. Issuing at least half of the debt through sukuk would help develop an Islamic yield curve and also give Islamic banks a way to maintain their competitive position with conventional banks. *Silk Road Sukuk <http://megaevents.us3.list-manage.com/track/click?u=4bccbea900e54b305a9c6a37c&id=e0a81a7d8f&e=f901ca2b34>* "One Belt, One Road"(OBOR) initiative- the combination of a land-based Silk Road Economic Belt and a sea-based 21st Century Maritime Silk Road- is a development strategy initiated by Chinese President Xi Jinping. It refers to the New Silk Road Economic Belt, which will link China with Europe through central and western Asia, and the 21st century Maritime Silk Road, connecting China with Southeast Asia, Africa and Europe. Funding for this initiative will be carried out mainly through China's own Silk Road Fund and the newly established Asian Infrastructure Investment Bank (AIIB). Theoretically, the asset-based nature of sukuk makes it ideal to be used as an infrastructure financing tool to build highway networks, ports and other big projects involving tangible assets. The Asian Development Bank (ADB) estimated in 2009 that the region needed $750 billion worth of infrastructure financing annually through 2020. The China-led AIIB is collaborating with Jeddah-based Islamic Development Bank (IDB) to appraise the appropriateness of Islamic financing as tool to fund different projects. China's eagerness to jump on the sukuk financing bandwagon affirms the prominence sukuk has gained from investors across developing countries and multilateral lenders to help finance various infrastructure projects. Moreover, sukuk financing gives China the access to a large capital pool in the Middle East and Southeast Asia. [image: Pie chart of Asia's new and replacement infrastructure needs] * Continue Reading * <http://megaevents.us3.list-manage.com/track/click?u=4bccbea900e54b305a9c6a37c&id=863a588010&e=f901ca2b34> [image: WIBC 2015 Ad] <http://megaevents.us3.list-manage.com/track/click?u=4bccbea900e54b305a9c6a37c&id=7508ea261b&e=f901ca2b34> *Is Microfinance the silver bullet for poverty alleviation? An Interview with BRAC International <http://megaevents.us3.list-manage.com/track/click?u=4bccbea900e54b305a9c6a37c&id=02043c7e7b&e=f901ca2b34>* Multilateral development banks and organisations all over the world look to the contribution of non-governmental financial institutions such as BRAC Bank and Grameen Bank when they seek examples of financial intervention towards development goals such as poverty alleviation and economic inclusion. Yet, the mainstream financial services industry have largely yet to adopt their practices and remain skeptical about the potential for serving these unbanked segments through micro-finance. What’s more interesting is the opportunity for Islamic micro financial services, given that a fourth of females stay away from such services due to religious and social considerations (more below). We speak to Mr. Rumee Ali, Treasurer & Member of Board of Directors of BRAC International (Official name: Stichting Brac International N.V.) a foundation which was formed by BRACs founders in 2009 with an objective to engage in charitable purposes and social welfare activities in any country of the world strictly on non profit basis. Founded in 1972, BRAC is the largest non-governmental development organization in the world. All of BRAC International’s development entities operate under the umbrella of BRAC International. *Finance Forward (FF): *How does BRAC International see its differentiation from other non-profit organizations with microfinance and related operations and what is the current vision relating to its international operations? *Mr. Rumee Ali (RA):* BRAC's holistic and unique approach to economic inclusivity through poverty alleviation makes microfinance one of the tools. As Sir Fazle Hasan Abed [Founder and Chairman of BRAC], said "We always thought nationally, worked locally and looked for inspiration globally. We were inspired by Paola Freire's work on pedagogy of the oppressed….It is wonderful to have a thinker who was thinking about the poor people and how they can become actors in history and not just passive recipients of other people's aid. He made us realize that poor people are human beings and can do things for themselves, and it's our duty to empower them so that they can analyze their own situation, see how exploitation works in society, and see what they need to escape exploitative processes”. A part of BRAC's strategy is to roll out other programs that will synthesize with its microfinance program to lift people out of the poverty trap. BRAC as an institution is one of the very few 'south based' development NGOs which is taking its rich and diverse multicultural and multinational experience to these countries. This places BRAC in a stronger position to customize the solutions to fit the local needs. Its approach to future has always been to respond to where its capabilities and its strategic strengths will best help local challenges. *FF: *How successful have your programs been at working together to help move people along the chain from ultra-poor to poor but self-sufficient and then out of poverty where they can create jobs for others? * Continue Reading * <http://megaevents.us3.list-manage1.com/track/click?u=4bccbea900e54b305a9c6a37c&id=be249fddbb&e=f901ca2b34> [image: World Islamic Banking Competitiveness Report 2014-15 Front Cover] <http://megaevents.us3.list-manage1.com/track/click?u=4bccbea900e54b305a9c6a37c&id=de3e6a11fe&e=f901ca2b34> *Featured Research* Thomson Reuters Global Islamic Asset Management Outlook 2015 The total size of new Islamic funds launched in 2014 increased to US$2.27 billion from US$1.52 billion in 2013, representing a 49% rise and a turning point after being hit first by the global financial crisis and then the Arab Spring. *Download Report* <http://megaevents.us3.list-manage2.com/track/click?u=4bccbea900e54b305a9c6a37c&id=3cc8d2bb38&e=f901ca2b34> Featured Events Date Location Global Ethical Finance Forum <http://megaevents.us3.list-manage1.com/track/click?u=4bccbea900e54b305a9c6a37c&id=0db8ef0f57&e=f901ca2b34> 1 to 2-Sep-2015 Edinburgh, SCT 22nd Annual World Islamic Banking Conference <http://megaevents.us3.list-manage1.com/track/click?u=4bccbea900e54b305a9c6a37c&id=d26feb00b9&e=f901ca2b34> 1 to 3-Dec-2015 Manama, BH -- -- You received this message because you are subscribed to the Google Groups "Kantakji Group" group. To post to this group, send email to [email protected] To unsubscribe from this group لفك الاشتراك من المجموعة أرسل للعنوان التالي رسالة فارغة, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kantakjigroup?hl=en سياسة النشر في المجموعة: ترك ما عارض أهل السنة والجماعة... الاكتفاء بأمور ذات علاقة بالاقتصاد الإسلامي وعلومه ولو بالشيء البسيط، ويستثنى من هذا مايتعلق بالشأن العام على مستوى الأمة... عدم ذكر ما يتعلق بشخص طبيعي أو اعتباري بعينه باستثناء الأمر العام الذي يهم عامة المسلمين... تمرير بعض الأشياء الخفيفة المسلية ضمن قواعد الأدب وخاصة منها التي تأتي من أعضاء لا يشاركون عادة، والقصد من ذلك تشجيعهم على التفاعل الإيجابي... ترك المديح الشخصي...إن كل المقالات والآراء المنشورة تُعبر عن رأي أصحابها، ولا تعبّر عن رأي إدارة المجموعة بالضرورة. --- You received this message because you are subscribed to the Google Groups "Kantakji Group" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. To post to this group, send email to [email protected]. Visit this group at http://groups.google.com/group/kantakjigroup. For more options, visit https://groups.google.com/d/optout.
