| [Gulf Times] Islamic component in project finance will increase if longer tenor instruments become available, an expert has said. “Longer tenor instruments will have a knock-on effect on the growth of Islamic finance. Currently, we don’t see too many Islamic financing instruments going out beyond 10 years,” said Daud Vicary Abdullah, Deloitte’s Global Islamic Finance Leader. He said if longer tenor Islamic financing instruments of 15 or 20 years are available, one can bring into the capital market takaful and re-takaful players who are going to take up these long-term papers. Particularly, he said, family takaful organisations, which are looking at long-term exposure on their balance sheet and matching it off in terms of cash flow and assets may be interested. |
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