Islamic Banking compliance

For over ten years Islamic finance has spread out from the Middle East to take a gradual hold in financial centres in Asia, North America and Europe.

Today the impact of the credit crunch and the strength of Islamic indices being among the top performers of 2007 has also led financial services all over the world to look at Islamic finance as an alternative source of tapping liquidity.

What about the figures?

-The market for Islamic finance now stands at over $500 billion, with predicted annual growth of 15% – 18% continuing to experience exponential growth in business turnover.
-Total takaful premiums were worth more than $2bn in 2005 and are predicted to rise to $7bn by 2015 (Moody’s).
-Islamic financial institutions worldwide now hold assets estimated at over $265 billion and financial investments over $400 billion (KPMG).
-The sukuk market has reached $70bn, and will top the $160bn mark by the end of the decade (Standard and Poor’s).
-Middle Eastern investors have now invested some $1,200bn in international assets & some analysts suggest the region could enjoy some $20,000bn of oil income in the coming years most of which will be used in the Islamic finance (HSBC)...

To keep on track : http://www.islamicfinancenews.com/