Failaka Advisors, in partnership with Paris-based Grapes Market Research & Advisory, has released the second edition of The Shariah Report.

The 2012 version of the report is the world’s first comprehensive report on Shariah scholars, with detailed profiles of more than 120 of the top scholars in the Middle East and from around the globe highlighting Islamic Finance’s global reach.

“Spanning from East to West, The Shariah Report profiles Shariah Scholars from Asia, the Middle East, Africa, Europe & North America, providing insight into the depth and breadth of the industry”, added Anne-Sophie Gintzburger, Founding Director at Grapes.

Each scholarly profile comprises country of birth, academic qualifications, a cross-referenced list of institution where each scholar serves as a Shariah Board member, and a list of their important works on Islamic finance.
Mark Smyth, Managing Director of Failaka, said: “We are pleased to be working with Grapes Market Research & Advisory on this project. It was a long and diligent process, which will surely help to improve still further the openness and transparency of the industry.”

Standard & Poor’s Islamic Finance outlook projects that the current value of the Islamic financial services industry is more than US$1 trillion and that the industry is predicted to grow to US$4 trillion by 2020 at a rate of 10% per annum.

In addition, there is US$50 billion in existing managed funds invested in equities according to Islamic principles, according to Ernst and Young Islamic Funds and Investment Report 2010.

With impressive annual growth forecast over the next eight years, the role of scholars will become increasingly important as more pressure is placed upon Shariah board members to ensure that the operations and activities of the banking institutions comply with Shariah principles.

“We expect strong demand for the 2nd edition as the industry continues to expand and new scholars and institutions enter the field,” added Smyth.

The potential prosperity and the inherent complexity of the Islamic Financial Services sector renders The Sharia Report 2012 an enlightening document for anyone looking to negotiate their way around the industry and its leading thinkers.

The Shariah Report 2012 is published in book form and can be ordered from www.grapesfinance.com

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