Tim Travers of Hadef and partners has spoken out on developments of note in the world of Islamic finance. In particular, Travers has noted the following significant issues to be aware of:

Islamic banks in the UAE will establish a benchmark profit rate to price their interbank dealings and other finance offerings;

• a new UAE insolvency law will be enacted;

• Islamic finance is to become an integral part of a fast moving global development in ethical finance, sustainable finance and green finance;

• there is increasing competition among regional Islamic hubs for a greater share of the business; and

• REITs and Infrastructure Trust Funds.

Travers outlines his views as follows: