“Crisi dei mercati finanziari” by Marco Giaconi (Source: alleo.it).

Our abstract, translated by the paper on ” Costs and opportunities of the Islamic Finance in Italy” in the GNOSIS review, the official periodical from AISI (former SISDE) the Internal Secret and Security Service of the Ministry of Interior in Italy, has been printed with the permission of the Author.

Marco Giaconi

Costs and opportunities of the Islamic Finance in Italy

The Arab world has always considered investment opportunities in Italy. Such interest is confirmed by a number of relevant investments already made in the country. The perception of attractiveness by Arabic investors, however, has not been stable, because of Italy’s economy’s well known structural rigidity (i.e. excessive bureaucracy, low quality infrastructures, ineffective distribution network, different dimensions of corporate ownership, intrusive tax system, powerful trade unions, low productivity of factors involved). Strong limitations to Italian attractiveness are also related to the financial-credit support, due to the scarce international dimension of the Italian system. In the future, Italian attractiveness to Arab capital might worsen, following the increasing request by Arab investors for technical peculiarities complying with Islamic religion.

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Our resumé, translated by the paper on “Sovereign Funds” in the GNOSIS review, the official periodical from AISI (former SISDE) the Internal Secret and Security Service of the Ministry of Interior in Italy has been printed with the permission of the Author. Because of the relevance of the matter and the specific insight permitted by the Author’s work, we would like to invite all the officials, security professionals, intelligence operators, bankers, financial analysts, assets market experts and all the people with some knowledge on this and related topics to join our mitigated, secure, effective and information-rich BLOG. We guarantee all the anonimity rules and all the webgalateo’s needs which can be enforced and/or effectively noted. , SO, LET THE ANALYSES BEGIN

Marco Giaconi

This article in English comes from the official magazine “GNOSIS” edited by the AISI, the Intelligence Service of the Interior Ministry of Italy, the former SISDE. Full version of the article is available at http://www.sisde.it/Gnosis/Rivista14.nsf/ServNavig/11.

Sovereign Funds and National Sovereignty

In recent years, some Governments, particularly those of Emerging Countries, have progressively played the role of the investor in international financial markets using their own assets, built up as Sovereign Wealth Funds (SWF), administered separately from the State Budget, often through private fund managers and financed by revenues from natural resources management, fiscal surplus and international reserves.

This “sovereign” asset management raises doubts concerning both the national interest and the national security of the countries where investments are made.

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