06.05.2011 - Islamic finance industry valued at $1.14tr
The global Islamic finance industry is valued at $1.14 trillion and is growing at a rate of 10 per cent annually, says Global Islamic Finance Report for 2011. Editor-in-Chief of the report, Professor Humayon Dar, said : "In the aftermath of the global financial crisis there is a pressing need for an alternative financial paradigm, one that is imbued with a sense of social responsibility whilst maintaining a profit maximisation objective. Islamic finance presents such an alternative. Since its inception 40 years ago, Islamic finance has grown and is still growing at a precipitous rate. More Muslim and non-Muslim countries are adopting Islamic finance services highlighting a bright future for this once niche industry".............................................Full Article: Source
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