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Islamic Finance:  Standard & Poor’s General Views and Ratings Approach  Dr. Mohamed Damak Associate -- Co-Chair of Islamic Finance Workgroup Standard & Poor’s Financial Services Osservatorio Del Mediterraneo Ministry of Foreign Affairs Roma, Nov. 4, 2009
Agenda ,[object Object],[object Object],[object Object],[object Object],[object Object]
Introduction
Islamic Finance At A Glance
Islamic Finance At A Glance Islamic Finance is rapidly emerging in new territories! Geographic expansion of Islamic Finance
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Islamic Finance At A Glance
Impact of the crisis on Islamic Finance and Sukuk market
Impact of the crisis on Islamic Finance and Sukuk market ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object],Standard &Poor’s Observations on how the crisis has affected Islamic Finance and the Sukuk market
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Standard &Poor’s Observations on how the crisis has affected Islamic Finance and the Sukuk market
The European Experience
Islamic Finance At A Glance Initiatives in European countries ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
The European Experience of Islamic Banking ,[object Object],[object Object],[object Object],[object Object]
The European Experience ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
The European Experience Sharia compliant retail banking products (home and auto financing)  Sharia compliant private banking, wealth management
The European Experience ,[object Object],[object Object],[object Object],35,728 1.7 2.8 61.3 United Kingdom 31,142 0.6 1.2 46.5 Spain 34,955 1.4 2.4 59.9 Italy 66,127 0.2 3.1 7.6 Switzerland 47,042 0.9 5.4 16.4 Netherland 39,442 3.0 3.7 82.2 Germany 42,091 6.2 10.0 62.0 France 42,965 0.4 3.6 10.7 Belgium GDP Per capita $ Est. (2009)  Total Muslim population Mil. (Est.) % of Muslim population (Est.) Total population Mil. (2008)   Target Market: Muslim population in Selected European Countries
The European Experience ,[object Object],[object Object],[object Object],[object Object],[object Object]
The European Experience ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
The European Experience ,[object Object],[object Object],[object Object],[object Object]
Sukuk Market At A Glance
Sukuk Market At A Glance ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Sukuk Market At A Glance ,[object Object],[object Object],[object Object]
Sukuk Market At A Glance ,[object Object],[object Object]
Sukuk Market At A Glance ,[object Object],[object Object]
Sukuk Market At A Glance ,[object Object],[object Object]
S&P’s Views of the Sukuk Market ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
S&P’s Views of the Sukuk Market ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Standard & Poor’s approach to rating Islamic Financial Institutions and Sukuk
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Standard & Poor’s approach to rating Islamic Financial Institutions and Sukuk
Standard & Poor’s approach to rating Islamic Financial Institutions and Sukuk Islamic Bank Balance Sheet 1 2 1 Classic  Rating Methodology Specific  Rating Methodology 2
[object Object],[object Object],[object Object],Standard & Poor’s approach to rating Islamic Financial Institutions and Sukuk
Selected publications ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Analytic services and products provided by Standard & Poor’s are the result of separate activities designed to preserve the independence and objectivity of each analytic process. Standard & Poor’s has established policies and procedures to maintain the confidentiality of non-public information received during each analytic process. www.standardandpoors.com

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Odm md

  • 1. Islamic Finance: Standard & Poor’s General Views and Ratings Approach Dr. Mohamed Damak Associate -- Co-Chair of Islamic Finance Workgroup Standard & Poor’s Financial Services Osservatorio Del Mediterraneo Ministry of Foreign Affairs Roma, Nov. 4, 2009
  • 2.
  • 5. Islamic Finance At A Glance Islamic Finance is rapidly emerging in new territories! Geographic expansion of Islamic Finance
  • 6.
  • 7. Impact of the crisis on Islamic Finance and Sukuk market
  • 8.
  • 9.
  • 10.
  • 12.
  • 13.
  • 14.
  • 15. The European Experience Sharia compliant retail banking products (home and auto financing) Sharia compliant private banking, wealth management
  • 16.
  • 17.
  • 18.
  • 19.
  • 20. Sukuk Market At A Glance
  • 21.
  • 22.
  • 23.
  • 24.
  • 25.
  • 26.
  • 27.
  • 28. Standard & Poor’s approach to rating Islamic Financial Institutions and Sukuk
  • 29.
  • 30. Standard & Poor’s approach to rating Islamic Financial Institutions and Sukuk Islamic Bank Balance Sheet 1 2 1 Classic Rating Methodology Specific Rating Methodology 2
  • 31.
  • 32.
  • 33. Analytic services and products provided by Standard & Poor’s are the result of separate activities designed to preserve the independence and objectivity of each analytic process. Standard & Poor’s has established policies and procedures to maintain the confidentiality of non-public information received during each analytic process. www.standardandpoors.com