Based
on the extensive experience of its staff and management, TIBC offers
trade related and asset backed transactions in Saudi Arabia, securitizing
them and placing them through a sukuk vehicle.
Islamic finance
has come a long way since its active re-introduction about 25
years ago. Islamic banking is the world’s fastest growing
financial sector with more then 200 Islamic institutions worldwide.
Presently, it is estimated that Islamic banks and financial institutions
manage some US$200 billion in assets and investments all over
the world. Although small in terms of the total global assets
managed by financial intermediaries, the growth rate is impressive
by any standards.
Islamic banking
is based on Sha’ria principles and prohibits the payment
and receipt of interest; rather, the Sha’ria principles
promote profit sharing.
Islamic banking
serves the same functions as conventional banking, except that
it operates in accordance with the rules of Sha’ria (Figh
Al-Muanmalaat). The basis principle is fairness through the sharing
of profit and the prohibition of Riba (usury).
Over
the last few years the whole Islamic finance movement has been
given a major boost by the rise of Bahrain as a key intermediation
centre in this market.
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Definitions / Glossary
