Islamic finance industry will continue to grow much faster than conventional banking in the Middle East and also increase its market share despite issues of Shariah standards across markets, regulations, tax issues, and documentation standardization.
Due to the increasing demand for Shariah-compliant investments globally by both Muslims and non-Muslims, the industry has grown by an estimated 20 per cent annually in the last five years to reach $1.3 trillion in total assets in 2011 and is projected to touch $1.14 trillion by 2012. (Press Release)