ISLAMIC CAPITAL MARKET: GLOBAL DEVELOPMENT AND TRENDS

The article examined trends in the global Islamic capital markets in 2018 using three main asset classes: sukuk, Islamic stocks and Islamic funds. It was noted that the world capital markets in 2018 were affected by a number of factors, including the slowdown in economic growth and ongoing geopolitical problems. Trade uncertainty came to the fore after the announcement that the US would impose tariffs on steel and aluminum imports, which weighed most on equity markets. Markets were also affected by higher interest rates by the us Federal reserve and, as a result, tighter international liquidity conditions and rising borrowing costs. Oil prices also experienced volatility in 2018, starting the year with a prolonged rebound in prices but eventually falling sharply in the fourth quarter. The conducted studies allow to draw the following conclusions that the positive results recorded in the ICM are due to sovereign and multilateral sukuk issues in the key markets of Islamic Finance to support the relevant budget expenditures. During this period, there have been a number of debuts in the sovereign issues market, including green sovereign sukuk to finance environmentally friendly projects. There is a trend of a noticeable increase in the number of Islamic funds in 2018. But due to the deterioration of stock market performance in developed and emerging equity markets in 2018, the assets of Islamic funds showed a decrease of 8.5% compared to 2017.

Islamic finance, capital market, Islamic stocks, sukuk, Islamic funds, interest rates, liquidity, исламские финансы, рынок капитала, исламские акции, сукук, исламские фонды, процентные ставки, ликвидность, исламдық қаржыландыру, капитал нарығы, исламдық акциялар, сукук, исламдық қорлар, пайыздық мөлшерлемелер, өтімділік

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