[Journal Article] Islamic Wealth Management: Prospects, Challenges, and the Case of Singapore

CBFL is pleased to share the publication of Prof Arif A Jamal and Habib Montani’s journal article, “Islamic wealth management: prospects, challenges, and the case of Singapore” in Capital Markets Law Journal. Volume 19, Issue 3, July 2024, Pages 260–279

Abstract

With growing wealth in Southeast Asia, including among Muslim communities in the region, and in Singapore particularly, the demand for Islamic wealth management products and services is expected to rise. Despite strong demand, Singapore’s Islamic finance industry seems to have stalled relative to its potential, in part, due to the lack of regulatory engagement. Although there have been efforts by the Singapore Government to support Islamic wealth management services, the sector remains largely self-regulated and de-centralized.  A further challenge to Singapore’s Islamic finance sector arises from the Islamic acceptability of its products and services; that is, if the products are perceived to be lacking in religious authenticity and are thus not taken up by consumers.

The article is available at: https://academic.oup.com/cmlj/issue/19/3