Asset management, sukuk to spur growth in Islamic finance

The US$2 trillion Islamic finance industry has grown rapidly over the past decade fueled in part by a robust sukuk market and a growing Islamic asset management industry. Going forward, Islamic finance is expected to grow in response to expanding economies in countries with a growing Muslim population and amid increasing demand for Shariah-compliant investments. On Thursday February 18, the Islamic Finance Summit took place in the city of Jakarta. The summit discussed highlights of the past year as well as offered glimpses of what’s ahead. Participants of the summit also heard Indonesia’s plans for developing Islamic finance.