| Record growth in the Islamic financial services (IFS) segment in 2012 firmly cemented Saudi Arabia as a global leader in the industry. However, while the segment looks set for further growth several industry leaders have called for greater regulatory uniformity across global markets.
The Kingdom issued $10.5bn in sukuk in 2012, a 278% increase over 2011, according to a February 2013 report from Kuwait Financial House. While Malaysia remains the world’s top issuer, the Kingdom took the number two spot in 2012, following the $4bn General Authority for Civil Aviation offering, the first government-backed sharia-compliant bond issue, and the single-largest sukuk anywhere to date...............................................Full Article: Source
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