Islamic Finance Prospects And Challenges

In just four decades, Islamic finance 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 comprehensive industry, broader investor and issuer base and consequently, with more cross-border transactions. Adding further to its global status, Islamic Finance has attracted the attention of advanced economies to tap into this growing market; testament to its universal appeal and propositions.

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