The Islamic finance sector has become a dynamic, fast-growing global phenomenon. 2011 proved to be a watershed moment for the industry as global Shariah-compliant assets crossed the USD 1,000 billion mark.
According to ‘The Banker’, the number of institutions reporting Shariah-compliant activity has increased from 221 in 2007 to 348 in 2011. Similarly, the number of institutions registered to conduct Shariah-compliant activities has risen from 525 in 2007 to 675 in 2011. The industry is expected to record a compound annual growth rate (CAGR) of 15% to 20% until 2015………………………………………..Full Article: Source