Majlis & Markets

According to the IMF, private credit assets grew to $2.1 trillion globally in 2023. With banks less willing to lend to riskier firms in the US and Europe, private credit has stepped in as a key lender.In the GCC, private credit activity has surged, with financial institutions setting up new funds and financing transactions. Examples include Mubadala and Goldman Sachs setting up a $1bn private credit fund in February 2024.In our 29th episode, we spoke to Ahmad Alanani, co-founder and CEO of Sancta Capital. With over 20 years of experience in debt restructuring and structured lending, Ahmad shares his insights into the growth of private credit in the region and its future.In this episode, we covered several topics includingThe development of private credit in the GulfExploring different financing structuresLooking at the risks in the coming yearsEmail us: hassan@majlisandmarkets.comIntro theme song-Arab and Muslim by StockMusic via Pixabay

The Middle East, Pakistan and Turkey secured $665 million in funding in the first half of 2024, equating to an 18% drop from last year, according to Magnitt, a Dubai-based VC data platform. Meanwhile, Saudi Arabia led the MENA region with $412 million in VC funding, despite a slight 7% decline. Investor numbers in the MENA increased by 33%, showing resilience in early-stage funding. In our 28th episode, we spoke with Ivo Detelinov, General Partner at Oryx Fund,  an early stage VC fund focused on the MENA region and managed by London-based VC firm Salica Investments.In this episode, we spoke over several topics including:The current VC landscape in Saudi Arabia and the regionType of financing to start-upsVC outlook for 2H24 and 2025Email us: hassan@majlisandmarkets.comIntro theme song-Arab and Muslim by StockMusic via Pixabay

The modern Islamic finance industry has grown since the 1970s into a $5 trillion industry. Critics argue that despite its ethical roots, it often prioritizes shareholder returns over impact investing. Whilst Islamic finance shares principles with ethical finance, it usually focuses on profits rather than social and environmental outcomes. In our 27th episode, we spoke to Reza Jaufeerally, a specialist in Islamic and ethical finance at the University of Leuven in Belgium. In our discussion, we touch on several topicsUnpacking what impact investing isWhy Islamic finance struggles with impact investingHow to enhance Islamic impact investing in Muslim-majority countriesEmail us: hassan@majlisandmarkets.comReza's Twitter (now X) handle-https://x.com/RZJ1Serenity Prayer by Reinhold Niebuhr; If by Rudyard KiplingIntro theme song-Arab and Muslim by StockMusic via Pixabay

Despite a young, tech-savvy, and predominantly Muslim population, Islamic finance in Central Asia remains small and underdeveloped. The region's financial services and fintech sectors also lag behind their global counterparts.In our 26th episode, we spoke to Abdullo Kurbanov, co-founder of Alif Bank, a leading challenger bank in Central Asia. Today, Alif serves 1.3 million customers in Tajikistan and 1 million customers in Uzbekistan. It also employs 1022 people in Tajikistan and 264 in Uzbekistan. Adding to this, Alif recently launched in the UAE and plans to enter Pakistan.Abdullo is also the co-founder Ayan Capital, a new Islamic car finance provider in the UK.In this episode we covered several topics including:  Insights on managing a fintech in Tajikistan and UzbekistanChallenges for Islamic finance in the regionEstablishing a new venture in the UKEmail us your comments, feedback or suggestions: hassan@majlisandmarkets.comIntro theme song-'Tales of the Arabian Nights' composed by StudioKolomna via Pixabay

Following the successful 2022 World Cup, Qatar is now focusing on diversifying its economy beyond hydrocarbons.In our 25th episode, we spoke to Akber Khan, Acting CEO of Al Rayan Investment, to discuss Qatar's post-World Cup strategy.In this episode, we covered several topics including:Qatar's economic landscape before the 2022 World CupThe challenges Qatar's economy faces in the coming yearsThe development of the region's equity capital marketsEmail us your comments, feedback or suggestions: hassan@majlisandmarkets.comIntro theme song-'Tales of the Arabian Nights' composed by StudioKolomna via Pixabay

Real estate is becoming a major sector in Iraq's economy. According to Statista, a Germany-based market research and data company, it's the fourth largest among Arab countries and is expected to grow at a healthy rate of 6% over the next few years. In our 24th episode, we spoke to Mahdi Zewin, founder and managing director of Bayt Al Iraqi (BaytIraqi), a new Iraq-based proptech company. In this episode, we spoke about several topics including:Why investors should consider investing in IraqThe opportunities and challenges in Iraq's real estate sectorIraq's emerging tech ecosystemYou can email your comments, feedback or suggestions to us: hassan@majlisandmarkets.comIntro theme song-'Tales of the Arabian Nights' composed by StudioKolomna via Pixabay

Over the past decade, digitalisation and technology have transformed financial services, including payments and interactions between customers and businesses. Islamic fintech aims to do the same but in a Sharia-compliant way.So, what makes Islamic fintech different? What challenges does it face, and what does its future look like?In our 23rd episode we spoke to Abdul Haseeb Basit, a digital finance expert with over 25 years of experience.  He is a Co-Founder and Principal of Elipses, an advisory and investment firm focused on digital disruption in the finance sector.In this episode we covered several topics including:Defining what Islamic fintech is and the ecosystem's landscapeAsking whether there is a branding/marketing issueLooking at some of the challenges facing Islamic fintechsAbdul's Twitter handle-@abdulhbasitGlobal Islamic fintech report 2023/24-https://salaamgateway.com/reports/global-islamic-fintech-report-2023You can email your comments, feedback or suggestions to us: hassan@majlisandmarkets.comIntro theme song-'Tales of the Arabian Nights' composed by StudioKolomna via Pixabay

Emerging technologies like cryptocurrency and blockchain are rapidly growing in financial services, including Islamic finance. These technologies promise to democratize and improve services, but some argue that Islamic finance still mirrors conventional products.In our 22nd episode we spoke to Khalid Howladar, Founder and Managing Partner of Acreditus, an advisory firm specialising in credit, Islamic, and digital assets. With 16 years at Moody’s, Khalid is a specialist in Islamic finance and digital assets. He also serves as Chairman of MRHB Network, a halal digital asset platform.In this episode, we covered several topics including:The current landscape of Islamic financeThe rise of cryptocurrency and other digital assetsHow these technologies could disrupt the industryYou can email your comments, feedback or suggestions to us: hassan@majlisandmarkets.comIntro theme song-'Tales of the Arabian Nights' composed by StudioKolomna via Pixabay

Richard Banks, a financial communication expert with over 25 years of experience, discusses the Gulf's rise in private capital and institutional finance. Topics include diverse investors, traditional and emerging asset classes, and the importance of understanding market dynamics. Insights into investment strategies, trends in private credit and equity, economic developments in the Gulf, and challenges in Dubai's infrastructure are also covered.

Since the May 2023 Presidential elections, Turkey's economic policy has changed significantly. Mehmet Şimşek, now the finance minister, signals a return to orthodox economic policymaking. This includes raising interest rates and implementing key reforms.However, challenges persist with a weak currency, high inflation, and declining FDI. The March 2024 local elections marked a critical moment as Erdogan and the AKP suffered a major defeat.In our 20th episode, we spoke with Serhat Süha Çubukçuoğlu from TRENDS Research and Advisory, an Abu-Dhabi based geopolitical advisory firm basedIn this episode, we covered several topics including:Look at Turkey's economic reforms since 2023 Presidential electionsExamining the rapprochement with Gulf countries like the UAE and Saudi ArabiaTurkey's FDI landscape and the challenges in attracting capitalYou can email your comments, feedback or suggestions to us: hassan@majlisandmarkets.comIntro theme song-'Tales of the Arabian Nights' composed by StudioKolomna via Pixabay