27.01.2010 - Islamic finance pauses for breath
From Cpifinancial.net: The global market for Islamic financial services is estimated to have risen by 25 per cent to reach $951 billion by end-2008. The Islamic Finance report from International Financial Services London (IFSL) notes that the Islamic finance sector is feeling the influence of the downturn in the global economy with asset growth likely to have paused for breath in 2009. Parts of Islamic finance face particular challenges: some Islamic banks are exposed to the downturn due to the falling real estate market and to liquidity constraints. The Sukuk market, despite a 30 per cent recovery in issuance from a low of $15 billion in 2008 to $20 billion in 2009, is being tested by its ability to deal with several defaults.....................................Full Article: Source