The advancement of Islamic banking and Finance in Global Markets
Journal Title: International Journal of Interdisciplinary and Multidisciplinary Studies (IJIMS) - Year 2014, Vol 1, Issue 8
Abstract
This study aimed to clarify general aspects of the Islamic Banking & Finance in global markets depending on some dimensions such as Global Islamic finance assets , Global Islamic funds sector &Global Islamic Sukuk sector. The researcher predicts the future growth for Islamic banking & Finance industry using statistical tools like Time series & forecasting. Among the most important results which were reached are: 1)Study expects Islamic banking assets to grow at a Compounded Average Growth Rate of 20% over (2013–2020) across the countries to reach US$3.034t by 2020. 2 )Global Islamic finance assets worth $ 1.35 trillion @ end of 2012 & $ 1.71 trillion @ end of 2013 . 3) Malaysia‟ Islamic finance assets worth $ 412 billion (30.51%). Saudi Arabia came second - worth $ 217 billion (16%) .Next United Arab Emirates, Qatar, Indonesia & Turkey worth $ 424 billion (31.4%). Finally, Other countries worth 22%. 4)The three major markets dominating Islamic funds are, Saudia Arabia Malaysia‟, & Luxemburg reaching around 70% of global Islamic funds. 5) Sukuk Is the most interesting investment instrument in Islamic finance .
Authors and Affiliations
Nafith AL-Hersh
Keywords
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