31.10.2008 - Islamic Banking grows at the rate of 15-20%
From Africasia.com: There are now over 300 Islamic financial institutions (IFIs) spread over 75 countries and 300 Shariah-complaint mutual funds, whereas, just one Egyptian-based Islamic bank existed in 1975. Currently, about $800bln is deposited in Islamic banks, mutual funds, insurance schemes and Islamic branches of conventional banks. By contrast, the market was valued at only $140bln in 2000. McKinsey & Co, the business consultants, estimates Islamic financial assets could reach $1 trillion by 2010...... Full Article: Source