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Edbiz Consulting Collaborates with Labuan IBFC to Produce Islamic Wealth Management Report 2015
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The report is aimed at narrowing the gap between demand and supply in Islamic wealth management products and solutions

LONDON, 1 June 2015 – London-based Islamic finance advisory firm, Edbiz Consulting, has partnered with Labuan International Business and Financial Centre (Labuan IBFC) to produce an Islamic Wealth Management Report (IWMR) to be published in the last quarter of 2015.

Despite volatile markets and uncertain geo-political conditions, the global wealth management industry is growing at an estimated average of 8% annually, with total assets under management expected to reach US$ 345 trillion by 2016. In tandem with this growth, Islamic wealth has also increased in the last few years with an ever growing number of Muslim individuals and families appearing in the global wealth list.

It is against this landscape, that the report will explore the growth and Islamic wealth, highlighting its concentration in different regions, providing crucial business intelligence to supply-side leaders and potential clients of the Islamic wealth management industry. In addition, different Islamic wealth management solutions will be analysed, with a focus on Islamic philanthropy and social responsibility.

“The Islamic wealth management sector remains one of the few untapped areas left in the industry. By bringing this report to market, we hope to initiate a robust discussion surrounding the utilisation of Shari’a compliant wealth structures and, specifically private wealth management structures,” said Director General of Labuan Financial Services Authority, Datuk Ahmad Hizzad Baharuddin.

Aimed at identifying and addressing the discrepancy between the supply of global Islamic wealth management solutions and the growing demand for such products and services, the report will be an essential tool to practitioners.

The role of waqf and charitable giving will also be discussed in the context of Islamic wealth management. The report will also include a perception survey of the Islamic wealth management industry to identify demand and supply gaps.

“With the increasing number of Muslim individuals and families appearing in the global wealth list and growth in Islamic financial assets, it is not unrealistic to assume that there is an increase in Islamic wealth globally. It is, therefore, high time that a Report analysing the developments, products and solutions in Islamic wealth management is produced, which should help the players to narrow the demand supply gap,” Professor Humayon Dar, Chairman of Edbiz Consulting, commented.

About Edbiz Consulting:

Edbiz Consulting Limited is an Islamic finance advisory arm of the London-based Edbiz Corporation. The teams at Edbiz Consulting have offered a wide range of Islamic financial consultancy services to the corporates, governments and multilateral institutions around the world. Its Islamic finance advocacy programme includes Global Islamic Finance Report (GIFR), Global Islamic Finance Awards (GIFA) and Islamic Finance Access Programme (IFAP).

For media queries, please contact:

Rizwan Malik,
Head, Business Development & Strategy
Tel +44 207 147 9970

About Labuan IBFC: 

ASIA PACIFIC’S MIDSHORE INTERNATIONAL BUSINESS AND FINANCIAL CENTRE

Labuan International Business and Financial Centre (Labuan IBFC) offers global investors the benefits of a leading international financial centre with access to Malaysia’s network of over 70 double taxation treaties. As a leading midshore jurisdiction, investors enjoy the benefits of Labuan’s efficient fiscal framework and market-friendly business environment, supported by professional service providers specialising in all aspects of insurance, takaful, international tax, trust and law.

Located off the North West coast of Borneo, Labuan IBFC is a leading jurisdiction for conventional and Islamic financial services. Please visit: www.libfc.com.

For media queries, please contact:

Shamillia Sivathambu,
Director, Communications
Tel +603 2773 8977
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