Global Islamic financial assets will double by 2015 to as much as $3tn as demand for the securities in the Gulf Co-operation Council and Malaysia lures issuers to the market, Standard and Poor’s has said.
Yields on Shariah-compliant bonds, known as sukuk and paying returns on assets to comply with Islam’s ban on interest, dropped to record lows this month, prompting issuers including the Turkish government to sell the securities. Islamic financial assets are currently valued at $1.3tn, S&P financial services associate Paul-Henri Pruvost said………………………………………..Full Article: Source