The global Islamic finance and banking sector is pegged at $1 trillion with an estimated growth rate that is four times higher than conventional financial services, according to organisers of the upcoming International Islamic Finance Conference 2012.
Recent estimates predict a year-on-year growth rate of 25%, which would see the global industry valued at $5 trillion in 2016. They said that this indicates a need for an increased understanding of both the sector and the robust strategies needed to support such growth where the increased competition is in danger of blurring of lines between products and services. (Press Release)