Fri, Nov 6, 2026
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

300 institutions, $650bln assets at 15% yearly growth rate - Report says Islamic banking attractive as it is highly profitable

Wednesday, November 26, 2008

From Matthias Knab, currently in Africa: According to Celent, a Boston-based financial research and consulting firm, Islamic finance has become a major global industry, with over 300 institutions currently involved in both Muslim countries and international markets. Globally, Islamic banking assets are estimated between US$600 billion and $650 billion and have registered a growth rate of 10-15% per year over the last decade, Celent says in its new report, Islamic Banking in the Middle East and North Africa.

Some key findings of the report include:

  • Islamic banking is an attractive business because it is generally highly profitable. Major Islamic banks have been less impacted than conventional banks by the current financial crisis.
  • The Middle East is currently one of the most developed Islamic banking markets, with more than US$255.8 billion in Islamic banking assets. Over the last decade with the expansion of economies, this region has seen exceptional growth, both in terms of financial institutions providing Islamic products and services and assets under management. Furthermore, Islamic banking assets have grown more rapidly than conventional assets in the Middle East region. However, Islamic banking is not equally developed across all countries.
  • Islamic banking is in an infancy stage in the North African region, representing approximately US$18 billion in 2007.
  • Islamic banking markets in Saudi Arabia and Kuwait are reaching their maturity phas......................

    To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: DACH institutions push alternatives to 32.3% of portfolios as hedge funds make a comeback[more]

    Matthias Knab, Opalesque for New Managers: Institutional investors in Germany, Austria and Switzerland now hold almost a third of their portfolios in alternative investments, and they are more confident than ever in

  2. KRX chief courts CalPERS for bigger bet on Korea[more]

    Korea Exchange Chairman and CEO Jeong Eun-bo held talks with California Public Employees' Retirement System, or CalPERS, to promote greater investment in South Korea's capital markets, the bourse operator announced Wednesday. Jeong met with CalPERS Chief Investment Officer Stephen Gilmore.

  3. 755 Unicorns, $8 Trillion: Fifth Era maps the autonomous digital economy[more]

    Matthias Knab, Opalesque for New Managers: Fifth Era Partners, a specialized asset manager focused on the convergence of Internet, AI/Agentic and Blockchain technologies, has released the findings of its 13th Bia

  4. Opalesque Exclusive: "Enough beta plays" - how Fasanara builds an alpha-only multi-strategy platform[more]

    Matthias Knab, Opalesque for New Managers: Most multi-strategy funds promise diversification. Fewer can explain why their return streams should stay independent when markets turn. In an Opalesque SkillsLab investor

  5. Opalesque Exclusive: Governance, Scale, and Boutique Resilience in a Consolidating Hedge Fund Industry[more]

    Matthias Knab, Opalesque for New Managers: The hedge fund industry has undergone significant consolidation in recent years, with capital increasingly concentrated among large multi-strategy platforms. Yet boutique m