'Continue efforts to dispel negative image'
THE world's Islamic finance and services industry must continue with their efforts to dispel the negative perception by the West that the sector is not performing and is only for Muslims.
CIMB-Principal Islamic Asset Management chief executive Datuk Noripah Kamso said these are some of the future issues and challenges facing Islamic fund managers currently.
"We have to continue working hard to dispel the notion that the sector has no liquidity, no track record and not enough expertise," Noripah said on the sidelines of the International Syariah Investment Convention in Kuala Lumpur yesterday.
"Islamic stocks are in fact stable giving the same returns like conventional stocks."
Noripah added that Asia is embracing Islamic finance as a lifestyle but educational efforts are the key for people in Europe, the US and some parts of the Middle East.
MiNC Investment London chief executive officer Kamran Mahmood said the challege for Islamic finance is to convince investors that Islamic finance products are no different with other conventional products giving the same returns and in line with current market conditions.
"The Islamic finance players, on the other hand, must not have any distinction between Muslim and non-Muslim investors and win their hearts over on Islamic products which provide good returns complete with risk retun profile and meet their requirements," Kamran added.
CIMB-Principal Islamic Asset Management chief executive Datuk Noripah Kamso said these are some of the future issues and challenges facing Islamic fund managers currently.
"We have to continue working hard to dispel the notion that the sector has no liquidity, no track record and not enough expertise," Noripah said on the sidelines of the International Syariah Investment Convention in Kuala Lumpur yesterday.On the contrary, Noripah said based on the Dow Jones Islamic Market World index, the sector for the past five years up to June 2010 had given total returns of 10.22 per cent compared to Dow Jones World's 0.45 per cent.
"Islamic stocks are in fact stable giving the same returns like conventional stocks."
Noripah added that Asia is embracing Islamic finance as a lifestyle but educational efforts are the key for people in Europe, the US and some parts of the Middle East.
MiNC Investment London chief executive officer Kamran Mahmood said the challege for Islamic finance is to convince investors that Islamic finance products are no different with other conventional products giving the same returns and in line with current market conditions.
"The Islamic finance players, on the other hand, must not have any distinction between Muslim and non-Muslim investors and win their hearts over on Islamic products which provide good returns complete with risk retun profile and meet their requirements," Kamran added.
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