The Islamic investment and financial management industry - already estimated to be worth US$230 billion - is increasing at the rate of 15 per cent a year, making it the world's fastest growing financial sector.
In many countries throughout the world, the market for Islamic finance products - Shari'ah compliant and based on Islamic laws - will be a hot area for continuing growth, predicts the leading independent market analyst Datamonitor.
In a recent survey report on high net worth individuals in the UK, the Datamonitor report's author Nicholas Stephen said: "The market for Islamic finance in the UK is set to grow hugely. Muslims have historically been underserved by UK financial institutions but this is set to change."
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Islamic finance hot area for growth
- United Arab Emirates: Sunday, March 03 - 2002 at 16:14
- PRESS RELEASE
The globalisation of the Islamic finance industry will be underlined with the opening in Dubai, United Arab Emirates, of a groundbreaking international forum.
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The International Islamic Finance Forum (www.iiff.net) is organised by the Institute for International Research under the patronage of His Highness General Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and UAE Minister of Defence. It is supported by the Saudi Economic & Development Company, Dow Jones Indexes and iHilal Financial Services.FOR FURTHER INFORMATION CONTACT:
Chris Mullinger
Conference Director
IIR Holdings Ltd
PO Box 21743
Dubai, UAE
Tel: +9714 351 2777 Fax: +9714 351 8604
Mobile: +9715 0658 5843
Or visit the conference website at www.iiff.net
Posted by Anne-Birte Stensgaard, News EditorSunday, March 03 - 2002 at 16:14 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Sun Dec 21 2003.
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