|According to the Global Islamic Finance Report 2011,1 the Islamic finance industry is valued at $1.14 trillion across more than 70 countries and is growing at an annual rate of 10%. It has been performing extremely well since its creation 40 years ago, and its expansion has accelerated in the past few years, within emerging economies around the world but also in non-Muslim majority regions like Europe.
Its appeal partly lies in its resilience, due to the fact that it is based in the real economy. The size of the global Muslim population—1.3 billion people across more than 50 countries2—contributes to its attractiveness in the eyes of financial institutions, but more recently, firms have also begun to realise that Islamic Finance is not only relevant for Muslim investors, but that it is a type of ethical investment that can appeal to a much broader audience. In fact, many non-Islamic countries have been adapting their financial regulations to enable and promote the adoption of Islamic financial products within their jurisdictions..............................................Full Article: Source