Recent Trends in the Islamic Finance Industry

The Islamic finance sector have experienced substantial growth in recent years. Today, more than 500 Islamic banking and finance institutions are operating worldwide, which are claimed to manage assets worth around $2.9 trillion, while the assets held in these institutions were a mere $10 billion in 1985. In the global financial system, this still represents a small share; however, double-digit annual growth rates over the past years, including over the worst years of the global financial crisis, indicate that Islamic finance is a resilient and promising sector.