MayBank Islamic Asset Management Licenses IdealRatings Equity Screening Solution for its Shariah FundsNovember 1, 2016Read more
San Francisco – Kuala Lumpur, 24 October 2016 – Maybank Islamic Asset Management Sdn Bhd (“Maybank Islamic AM”), a...
- October 10, 2016Read more
Comprehensive data helps investors make informed decisions Market transparency will support growth of Sukuk sector Launch reflects Dubai’s...
Nestlē… Another Volkswagen’s replica on the way?
Despite being a leader in several sustainability indices and a committed signatory to the UN Global Compact since 2001, Nestlē has been criticized since the 1970s for its greediness. The country seems to have ignored the strong policies it has committed itself and has been subject to numerous boycotts due to controversies such as its “killer” baby formula, bottling California water during droughts, destroying rain forests and for the last couple of years, child labor within its supply chain.
The company, along with, Mars, The Hershey Co., Archer-Daniels-Midland and Cargill has been accused of purchasing cocoa from Cote d’Ivoire in full knowledge of that it used child slaves to harvest cocoa. A filed appeal to have the case dismissed was rejected by the US Supreme Court.
In defense of the multinational, the Fair Labor Association, an independent entity devoted to protecting workers’ rights globally, conducted 13 surprise monitoring visits to four cooperatives in the Ivory Coast supplying to Nestlē reporting evidence of forced and child labour and while there were improvements according to their report, Nestlē still has a long way to go.
It’s unclear whether child labour case could lead to the company’s downfall in terms of its stellar corporate responsibility standards reputation but it will certainly put a dent.
The European corporate sector has a huge demand for the long-term funding. As of the rising regulatory capital requirements by the financial institutions, there is a good opportunity here for Sukuk to act as another alternative of funding source.
Long-term funding via Sukuk has proved to be quite successful in recent years. The dollar Sukuk market has tens of issuances with maturities up to 10 and 20 years, many of which fund the financial institutions’ Basel 3 capital requirements. Further, Sukuk have also become a sound funding option for sovereign deficits or project finance worldwide, with various structures and nature of underlying assets.
- December 27, 2015Read more
DUBAI, 27th December 2015 – Emirates NBD Securities, the brokerage arm of Emirates NBD, today signed a contract with a...