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FINANCIAL NEWS
Dubai’s Islamic finance assets to hit USD3.2t by 2020
31 Aug 2015
(MENAFN) The worth of Dubai’s assets in the Islamic finance sector is projected to surge by 80 percent over the next five years, to hit USD3.24 trillion in value by 2020.
Islamic Finance is considered the most developed sector within the various pillars of the Islamic economy, and this showed clearly in 2014 when Islamic assets had an estimated value of USD1.8 trillion.
The total number of Islamic financial establishments operating worldwide has hit 1,143, divided between 436 Islamic banks or windows, 308 takaful institutions and 399 other Islamic financial bodies.
As global acceptance of Islamic finance carry’s on to develop, more corporates and non-Muslim countries are announcing Islamic finance initiatives such as ethical or Shariah-compliant regulations.
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