The Islamic banking and finance industry only accounts for a modest market share of the global banking market but, as Nadim Khan reports, it is still the world's fastest-growing financial sector
November 20, 2003 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
Islamic finance is the world’s fastest-growing financial sector, with assets worth an estimated $230bn (£137.6bn) worldwide and an average annual growth of 15%.
The multi-million dollar global industry of today is unrecognisable from the niche area of 30 years ago. Western financial institutions such as HSBC and Citibank are providing Islamic finance to an increasingly active and growing customer base.
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