Channel Islands Exchange Targets Islamic Financing Listings

The Channel Islands Securities Exchange is planning to capitalize on interest in Islamic finance listings. The Exchange is currently in the process of revising its listing rules for investment vehicles and said it will publish Islamic finance guidance notes to accompany all its listing rules.

Ben Snook, Manager at the Channel Islands Securities Exchange Authority, said: "The Islamic finance market is growing rapidly. This is particularly the case as wealth from the Middle East is supplemented by the development and export of capital from countries such as Malaysia, Indonesia, and Singapore in South East Asia. It is an area of significant opportunity…"

The Exchange is already home to a number of debt securities and investment vehicles that are Islamic finance structures. This includes an award-winning product combining Insurance Linked Securities (ILS) with sukuk, Islamic bonds. It was the first ever securitization of takaful (Sharia compliant) insurance policies.