Islamic financial assets around the world hit $1.3 trillion in 2011, a 150 percent increase over five years as the industry expands into new country’s beyond core markets in the Middle East and Malaysia, a report on Thursday estimated.
Developed markets in Malaysia, Iran and the Gulf remain fertile ground for future growth, but considerable potential also exists for expansion as more countries look to cultivate Islamic banking operations, including Australia, Azerbaijan, Nigeria and Russia, the report by lobby group TheCityUK’s UK Islamic Finance Secretariat (UKIFS) said………………………………………..Full Article: Source