We bring you insightful conversations with leaders in Islamic and global markets. 🌐💬 Join us as we explore the landscape of Islamic finance, delve into Middle Eastern and global financial markets as well as enter the realms of venture capital and much more! Email us: [email protected] Follow Majlis & Markets on LinkedIn-https://lnkd.in/eXKNRVcF Follow Majlis & Markets on Instagram-https://www.instagram.com/majlismarkets/
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Episode 58-Fund Focus: The GCC Investment Boom
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33:23In this episode, we’re joined by Dounia Mansour, a Dubai-based partner at King & Spalding. She advises on setting up a wide range of investment funds—from private equity and real estate to Shariah-compliant structures. We covered several topics including The funds landscape in the Middle East The rise of Shariah-compliant funds Why the UAE—is becom…
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Episode 57-Counting the cost: Inside Syria's economy
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1:47:07December 8 2024 will forever be a turning point in Syria’s modern history. The fall of Bashar Al-Assad’s regime brings new risks, challenges, and opportunities. But how did we get here? In this episode, we break down Syria’s economy under Assad, from pre-2011 through the 14-year civil war, and explore the economic challenges ahead. Joining us is Ji…
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Episode 56-Gulf Currents: Bahrain in a Changing Gulf
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1:06:00Bahrain’s economy is often overshadowed by its larger Gulf neighbours, but it plays a crucial role in the region’s financial landscape In episode 56, we spoke to Duncan Mayall, Chief Economist at Consulum. He has over 15 years experience advising sovereign wealth funds and investment bodies across the Gulf, North Africa, and China. In this episode,…
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Episode 55-Decrypting MENA’s Crypto Surge
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1:08:48In episode 55, we’re joined by Alex Chehade, a finance and crypto veteran with over two decades of experience. His experience includes market-making in traditional finance to leading Binance FZE in Dubai. As the Middle East cements its status as a global crypto hub, Alex is focused on bridging the gap between traditional finance and DeFi—making dig…
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Episode 54-The Gold Standard: Power, Policy & Markets
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51:37In our 54th episode, we’re joined by Andrew Naylor, Head of Middle East and Public Policy at the World Gold Council. We discuss gold’s role in global markets, its significance in Islamic finance, and what the future holds for this precious metal. We covered several topics including: The drivers behind the recent gold price rally Gold's role in Isla…
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Episode 53-Saudi Unscripted: Content, Change & Growth
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47:42In our 53rd episode, we're joined by Yasmin AlKhowaiter, host of The Majlis, a podcast where she talks to global thought leaders about Saudi Arabia’s economic transformation. With a background in consulting, Yasmin has worked with both private and public sector clients—giving her a unique perspective on the region’s rapid evolution. In this episode…
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Episode 52-Profit with Purpose: Halal Investing
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45:50Monem Salam, Director and Portfolio Manager at Saturna Capital. With years of experience in Islamic investing, he’s been is a leading voice in the industry. In this episode, we explore: The evolution of Islamic finance The latest investment trends Where the industry is headed next Please note that this discussion is for informational purposes only …
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Episode 51-The Venture Shift: MENA’s Next Big Moves
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39:51In our 51st episode, we’re joined by Philip Bahoshy, founder and CEO of MAGNiTT, the leading start-up data platform for emerging venture markets. In our conversation, we covered several topics including: The region’s VC ecosystem—its challenges, opportunities How MAGNiTT is bridging gaps with data and insights Philip's outlook for 2025 MAGNiTT's fi…
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Episode 50: Tackling Liquidity in Islamic Finance
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54:45In our 50th episode, we spoke to Mohamad Safri, CEO of the International Islamic Liquidity Management Corporation (IILM). With nearly 30 years in banking and over 20 as a leader in Islamic finance, Safri has been instrumental in shaping the global Islamic capital market. In our conversation, we covered topics including: The liquidity challenges Isl…
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Episode 49-Setting the Standard: AAOIFI's Impact on Islamic Finance
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1:09:40In this exclusive episode, we’re joined by Omar Ansari, Secretary General of Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI)—the global standard-setter for Islamic finance. In this depth conversation, we covered several topics including: AAOIFI’s role in shaping the industry Why standardisation and implementation ar…
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Episode 48-The Alt Shift: The Rise of Alternative Assets
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47:39Alternative assets like gold, cryptocurrency, and private credit have gained momentum in recent years, driven by the COVID-19 pandemic, the Ukraine war, and uncertainty around interest rates. These investments have become key as investors seek stability and higher returns. With President Trump 2.0 preparing to take office and new uncertainties on t…
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Episode 47-Islamic Finance Decoded: Growth and Gaps
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1:01:40This year, Islamic finance has made significant strides, with sukuk issuances reaching record highs and the market expanding into green and sustainable finance. With the industry on track to hit $6 trillion by 2027, its growth is undeniable. However, challenges persist. Rising compliance costs, the push for harmonisation, and the introduction of AA…
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Episode 46-Building Markets: The GCC IPO Surge
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51:20In recent years, the IPO market in the GCC has been on fire. Driven by government initiatives and a push to expand regional equity markets, the region has seen a surge in IPO activity. Saudi Arabia is expecting over 50 IPOs in 2024, while the UAE has led the way in IPO proceeds, especially in 2023. But what’s behind this rise? What challenges do c…
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Episode 45-Faith and Friction: The UK’s Islamic Banking Story
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1:05:26The UK is the leading hub for Islamic finance in the West. The London Stock Exchange holds 35% of the US dollar sukuk market, and English law governs most sukuk worldwide. But domestically, the industry is small. By the end of 2023, Islamic banks made up just 0.1% of UK banking assets, according to Fitch. In our 45th episode, we spoke to Mohammed P…
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Episode 44-Bonding Over Green: The GCC’s ESG Shift
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32:56Sustainability and ESG are now key priorities in the GCC, with green bonds, sustainable loans, and major projects like Masdar City and NEOM driving change. But, are banks and institutions doing enough? And how does the GCC compare globally? In our 44th episode, we spoke to Daniel Gribbin, Deloitte Middle East’s Sustainability and ESG Lead. With ove…
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Episode 43-Banking on Belief: Islamic Finance in Canada
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43:32With Muslims now making up nearly 5% of the population, demand for Shariah-compliant financial services is growing in Canada. Yet, the sector remains small and underdeveloped. To unpack the challenges and opportunities, we spoke with Mohamad Sawwaf, Founder and CEO of Manzil, Canada’s leading Islamic FinTech firm. With a Doctorate in Islamic Financ…
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Episode 42-Emirates of Influence: The UAE’s Rise in Global Markets
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1:16:30The United Arab Emirates (or UAE), once known mainly for its oil, now drives growth across finance, trade, and technology. Dubai stands out as a global hub for finance and tourism, while Abu Dhabi channels its wealth into high-tech industries and global investments. Meanwhile, other emirates, like Sharjah and Ras Al Khaimah, are developing their ow…
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Episode 41-Malaysia’s Future: Balancing Growth and Giants
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42:40In the last decade, Malaysia has experienced dramatic shifts— from the 1MDB scandal that shook the nation, to its rise as an economic player, all while balancing relationships with global powers like the US and China. To help us unpack these complex dynamics, we’re joined by Nick Khaw, economist and Head of Research at Khazanah Nasional, Malaysia’s…
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Episode 40-Kingdom Capital: Shaping Saudi’s Economic Future
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43:11Since Crown Prince Mohammed bin Salman launched Vision 2030 in 2016, Saudi Arabia has undergone major changes. The kingdom is opening up its society and reshaping its economy by investing in industries like mining and tourism. In particular, the financial sector, is driving much of this progress and attracting global attention. In our 40th episode,…
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Episode 39-Fuelling the Future: The Middle East’s Energy Shift
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37:21Natural resources are central to Middle Eastern economies. While climate change and green financing are on the rise, oil and gas still dominate, shaping economies and global markets. At the same time, Gulf nations are exploring new energy options to meet their climate goals. In our 39th episode, we’re joined by Carole Nakhle, founder and CEO of Cry…
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Episode 38-Venture Into Iraq: Start-Ups on the Rise
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37:01After years of instability, Iraq’s political and security situation is improving, opening up new opportunities for economic growth. With a young, tech-savvy population, many are starting businesses in areas like fintech and e-commerce. The potential is there, but challenges like funding, infrastructure, and regulations still slow things down. Our g…
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Episode 37-Banking on Faith: Australia’s First Islamic Bank
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36:39Islamic finance is gaining traction in Australia. With over 813,000 Muslims—about 3.2% of the population—there's an increasing demand for financial services that align with their faith. However, Islamic finance still makes up a small part of the banking sector, with limited options from major banks and a few non-bank providers. Change is on the hor…
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Episode 36-Crypto Currents: Fintech and Digital Assets in the Gulf
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37:41The digitalisation of finance is reshaping the industry, with new asset classes like cryptocurrency gaining traction. Dubai and the UAE have become key hubs for fintech and crypto, driven by new frameworks and initiatives to attract firms and talent. Saudi Arabia and Qatar are also enhancing their regulatory systems. But what are the benefits and c…
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Episode 35-Egypt’s Fintech Focus: Growth and Challenges
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38:36Egypt is quickly becoming a major tech and fintech hub in MENA and Africa. With over 100 million people, many of them young and tech-savvy, and a strategic location connecting continents, the country is set for impressive growth. But the path forward isn’t without its challenges. These include regulatory hurdles, market fragmentation, and infrastru…
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Episode 34-Feeling the Heat: Gulf States and Climate Shifts
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53:40Across the MENA region, environmental challenges are rising, but the six Gulf Arab states—Saudi Arabia, the UAE, Kuwait, Oman, Qatar, and Bahrain—are feeling the impact the most. With economies built on oil and gas, they’re now on the frontlines of climate change. COP28 in Dubai last year called for urgent action, but what are Gulf countries actual…
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Episode 33-Islamic Finance: Kazakhstan's Next Frontier
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40:03Since 2009, Kazakhstan has been integrating Islamic finance into its economy to attract foreign investment and diversify its financial sector. Leading this effort is the Astana International Financial Centre, or AIFC, which aims to make Kazakhstan a financial bridge between East and West. With its strategic location and a growing Muslim population,…
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Episode 32-Building Trends: UAE & Saudi Real Estate Insights
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52:18Dubai's real estate has surged in the past decade, driven by its strategic location and luxury demand. Abu Dhabi is advancing, and even smaller emirates like Ras Al Khaimah are attracting attention with new projects. Saudi Arabia is the major focus, with Vision 2030 transforming the real estate landscape through NEOM’s futuristic cities and ambitio…
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Episode 31-Pyramids of Pressure: Egypt's Economic Balance
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57:53Egypt's economy is under intense pressure, with a currency crisis, soaring debt, rampant inflation, and a struggling private sector. But a major UAE investment in February 2024 and a recent IMF bailout offers hope. Plus, Egypt’s entry into BRICS in 2023 hints at a shift eastward. In our 31st episode, we spoke to Beth Morrissey, managing partner and…
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Episode 30- Inside the Gulf bonds bonanza
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45:38According to Fitch, the GCC debt capital market has soared to nearly $1 trillion. In 1H24, GCC primary debt issuance reached $75.5bn compared to $54.8bn in the same period last year, representing a 38% increase, according to Markaz, a Kuwait-based financial institution. In the first five months of 2024, emerging market dollar debt issuance—excludin…
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Episode 29-Exploring the GCC Private Credit Boom
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51:48According 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 Mubada…
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Episode 28-MENA VC Insights: Saudi surge and regional trends
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38:51The 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…
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Episode 27-Profit Over Principles? The Ethical Dilemma in Islamic Finance
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1:04:21The 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 27…
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Episode 26-Central Asia's Fintech Revolution
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1:05:51Despite 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. Toda…
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Episode 25-Qatar's Next Play: From the World Cup to Future Growth
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57:58Following 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 Cup The cha…
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Episode 24-Bricks and Bytes: Iraq's Real Estate Tech Boom
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1:06:36Real 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 (BaytIra…
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Episode 23-Islamic Fintech: Navigating the Landscape and Challenges
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48:49Over 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 epis…
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Episode 22-Redefining Islamic Finance: The Tech Disruption
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59:38Emerging 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 Acred…
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Episode 21-Gulf investment boom: Inside the rise of private capital
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1:13:23In recent years, private capital and institutional finance in the Gulf have surged, with investors venturing into infrastructure and emerging areas like private credit and equity. This has attracted attention from major players like BlackRock, especially focusing on key Gulf markets such as Saudi Arabia. In our 21st episode, we spoke to Richard Ban…
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Episode 20-Turkey’s Economic Shift: Crisis or Comeback?
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59:04Since 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 …
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Episode 19-Rising Down Under: Australia's Islamic Finance Landscape
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56:26In recent years, Islamic finance has gained traction in Australia. With Muslims comprising 3.2% of the population and a median age of 27, their financial needs align closely with their religious beliefs. Moreover, Australia's trade with Muslim nations like Indonesia and the UAE underscore the growing importance of Islamic finance. Yet despite these…
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Episode 18-Libya Uncovered: Post-2011 Dive into Politics & Economics
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1:10:44Since the 2011 revolution ousted long-time leader Muammar al Gaddafi, Libya has been in turmoil, with rival factions fighting for control amidst vast oil reserves. However, conflicts intensified notably after 2014, worsening the nation's instability. Last year, the IMF highlighted Libya's economic paradox: despite high GDP per capita, challenges pe…
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Episode 17-Charting Gulf Sovereign Wealth Funds
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49:30Over the last two decades, sovereign wealth funds (SWFs), particularly those from the Gulf, have emerged as significant economic players. With Gulf SWFs holding nearly $4 trillion in assets, they wield considerable influence on both local and global economies, investing across sectors like finance, infrastructure, and even sports teams! But what hu…
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Episode 16-Venturing Forward: Unlocking the OIC's Venture Capital Potential
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54:05In recent decades, the global venture capital industry has experienced a significant surge, propelling ground-breaking start-ups like Uber and Airbnb into mainstream recognition. Despite the promising emergence of venture capital hubs in OIC countries like Dubai, Pakistan, and Malaysia, challenges persist, including regulatory hurdles and restricte…
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Episode 15-Shifting Tides: Exploring de-dollarization and the rise of BRICS
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1:13:56The shift from the US dollar to non-dollar currencies in trade, known as de-dollarization, impacts capital markets, global trade, and geopolitics. Moreover, the influence of BRICS, a coalition of major emerging economies, is reshaping the global economic landscape. With more nations exploring alternative currencies and key Islamic countries like Sa…
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Episode 14-Gulf Monarchies Unveiled: Power, Wealth and Global Influence
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1:07:47The Arab monarchies of the Arabian Peninsula have become key players globally in politics, economics, and security, largely due to their extensive oil and gas reserves. With their substantial wealth, these Gulf states exert significant influence in energy markets and global investments. Furthermore, the hosting of major events like the 2022 World C…
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Episode 13-Unpacking Egypt's Economy
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1:02:44Since 2011, Egypt has faced political and economic challenges, worsened by a surge in foreign debt and unfavourable policies. COVID-19 in 2020 and the Russia-Ukraine conflict in 2022 hit hard, especially as Egypt is the world's largest wheat importer. Today, Egypt is dealing with soaring inflation, a weakened currency, and heightened climate and ge…
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Foreign direct investment or FDI is a vital driver of economic growth for many nations. This can be through job creation, tax revenue, and technology exchange. FDI also faces challenges including data collection accuracy, regulatory hurdles, and domestic economic policies. Despite its importance, the Organization of Islamic Cooperation (OIC), repre…
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Episode 11-Turkey's economy: Past, Present and Future
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1:01:50Since the Presidential elections in May 2023, Turkey has shifted back to orthodox economic policymaking. This included the appointment of Mehmet Şimşek, a well-respected figure, as finance minister, and adopting more conventional economic policies. With a renewed focus on containing inflation, stabilising the currency, and attracting foreign invest…
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Episode 10-Accelerating Iraq's Startup Revolution
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47:40In our 10th episode, we spoke to Matteo Mantovani, co-founder of Baly, an Iraq-based ride-hailing and super app. Matteo has dedicated a significant portion of his career to Iraq's advancement, managing multimillion-dollar projects in Basra and overseeing critical infrastructure initiatives. As a co-founder of Baly, Matteo has observed first-hand Ir…
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Episode 9-Venture & Faith: Inside Tanzania's Financial Evolution
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49:02In recent years, Tanzania's venture capital scene has been flourishing. In just 2022, the East African country reached a significant milestone, raising $24 million across 6 deals, according to Magnitt, a Dubai-based VC data platform. Industries like FinTech, Agriculture, and E-commerce have been driving this growth with numerous successful funding …
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