Islamic finance sector seen to reach $2 trillion by 2015

Source : Khaleej Times

The $1 trillion global Islamic finance industry is set to double in size between 2011 and 2015, recording an annual 20 per cent growth driven by increasing demand for this “credible alternative” to conventional banking in the GCC and Asia.

“The global crisis faced by conventional finance has led to Islamic finance increasingly being viewed as a credible alternative. Issuers and investors have realised that the risk-reward balance in both conventional and Islamic finance are not fundamentally different,” said Stuart Anderson, managing director and regional head for the Middle East at Standard & Poor’s, or S&P.S&P expects the $1 trillion global Islamic finance industry to grow 20 per cent over 2011-15 doubling in size over the period.

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