The global Islamic banking industry enters its 38th year in 2013 in its contemporary phase with invigorated optimism, fueled partly by its continued proliferation in new markets especially in Oman and Arab Spring countries and partly by the impressive momentum of the sukuk market which in 2012 by its own standards enjoyed a record year with several new entrants to the market, especially from non-traditional issuers, and pioneering new structures.
But the industry has a tendency to be beguiled by its own relative success largely because of a lack of independent evaluation of its performance and policy and architectural development………………………………………..Full Article: Source