Islamic Finance Explained
By David Oakley, Shannon Bond, Cynthia O’Murchu and Cleve Jones
Financial Times (May 30, 2008)
The Islamic finance industry is worth about $800bn globally and is growing at an annual rate of 10 to 15 per cent. The sector’s dramatic growth since 2000, when it was worth $150bn, and profusion of investment products has been fueled by an increasing desire by Muslims for investments that comply with Islamic law. Demand has also been triggered by the big increase in wealth in the Gulf, where growth has doubled since 2002 on the back of the soaring oil price.
Our interactive feature explores the main Islamic financial instruments, the key players and where the industry is heading.