In just four decades, the Sharia compliant finance industry has grown from a niche banking system to be regarded as one of the fastest growing segments of the global financial industry, with total global financial assets estimated to be around USD2tln. The past five years have been most significant, recording 17.3% Compounded Annual Growth Rate spurred by improved industry infrastructure, a more c... »

Speaking at a conference in Singapore, Jacqueline Loh, Deputy Managing Director of the Monetary Authority of Singapore listed a number of key trends which can help boost cross border Sharia compliant trade between Asia and the Middle East. »

The growth of the industry offers important potential benefits, the IMF stated in its IMF Research June 15 bulletin. The IMF stated the sector could facilitate financial inclusion by increasing access to banking services to underserved Muslim populations. Furthermore the risk-sharing characteristics of Islamic financial products can facilitate access to finance by small- and medium-sized enterpris... »

Key points of EY Report 2014-2015, Focus on market penetration of Islamic Banks. »

Global gross takaful contributions are estimated to have amounted to USD26bln as at end-2014. Saudi Arabia and Malaysia are the largest takaful markets by gross contributions. Saudi Arabia generated an estimated USD7.2bln in gross takaful contributions in 2014, while Malaysia gathered about USD2.7bln. »

Beyond the headline growth numbers, the industry has experienced transformative changes, which supports the overarching goal of Islamic finance as a more inclusive and equitable financial system. »

The global Islamic fund sector amassed USD75.8bln in assets under management (AuM) as of 17 September 2014, with 1,161 active funds. The market is led by Saudi Arabia and Malaysia, which together hold 65% of Shariah-compliant AuM. European jurisdictions continue to attract fund managers with Islamic offerings. In Asia, a substantial more funds are emerging from Indonesia and Pakistan. Islamic fund... »

According to data published by Al Rayan Bank, as end of 2014 Islamic assets represented about 1% of the global financial market. The Muslim population of the world is estimated at about 1.5 billion, representing 24% of total world population of 6.3 billion, however it would be too simplistic to suggest all Muslims desire to bank based on Islamic principles as evidence suggests most Muslims do not ... »

Whilst Islamic Finance is often branded as Ethical Finance and therefore as a by-product attempting to appeal to a wider audience irrespective of religious beliefs, the reality is Muslims represent the biggest consumers of Islamic Finance. The Muslim population of the world is estimated at 1.5 billion, representing 24% of total world population of 6.3 billion. It is too simplistic to assume all Mu... »

Islamic Finance has only made substantial advances within the last decade. The Islamic banking industry, in particular, has been growing at a sustained rate, despite being at a nascent stage. Total Islamic banking assets are expected to increase to USD1.7tln in end-2014, having recorded a Compounded Annual Growth Rate (CAGR) of 14.1% between 2009 and 2014. The largest Islamic banking markets are i... »