Browse related articlesShariah compliant assets hit $267bn
Tuesday, May 27 - 2008 at 10:21
A new report by Ernst & Young has found that Shariah compliant assets in the GCC and Far East have reached $267bn due to strong economic expansion, increased government expenditure and high levels of liquidity. The figure translates into a potential annual revenue pool of $1.34bn for the Islamic asset management industry, according to the report, which focuses on markets in the GCC, Malaysia and Indonesia. At the end of March 2008, there were over 500 Shariah compliant funds in the world, 153 of which were established in 2007 alone. The total could hit 1,000 by 2010, the report said.
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Jeff Florian, Senior ReporterTuesday, May 27 - 2008 at 10:21 UAE local time (GMT+4)
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