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FINANCIAL NEWS
Saudi-backed Islamic funds industry to reach USD77b by 2019
21 May 2015
(MENAFN) The Islamic funds under management are forecast to hit USD77 billion by 2019, according to the Global Islamic Asset Management Outlook by Reuters, Press Release reported.
The need for Islamic funds is also set to increase, reaching USD185 billion by 2019. Presently, Malaysia and Saudi Arabia enjoy 69 percent of the total global Islamic funds under management.
“The report highlights key areas of opportunity available to the Islamic asset management industry, including Islamic wealth management ” and socially responsible investments.” The managing director of MENA Reuters said.
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