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Bahrain: The pearl of Islamic finance

Posted on 07 July 2010

From Aawsat.com: Bahrain today is one of the largest Islamic financial centers in the world, with 45 Islamic financial corporations operating in the country; 26 of which are Islamic banks, with the remaining 18 being Takaful [Islamic] insurance companies.
Bahrain’s Islamic financial assets have multiplied more than 12 times since 2000 from being worth just 1.9 billion dollars, to being worth 26.3 billion dollars in 2009. In 2000, Islamic banking made up just 1.11 percent of the total assets of the Bahrain financial industry, whereas in 2009 this figure stood at 11.1 percent. Bahrain’s Islamic financial industry has witnessed annual growth of between 15 and 20 percent over the past five years……………………………………….Full Article: Source

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