IslamicFinance.de

Janet Ecker, president and CEO of the Toronto Financial Services Alliance said Canada’s stable financial market and risk management expertise, coupled with a large and growing Muslim population and an openness to the world, enables Canada to become the North American hub for Islamic finance. Just over one million people identified as Muslim on the most recent household survey in 2011, and that number is expected to grow to around three million by 2030. Muslims represented 3.2 percent of the Canadian population in 2011, up from 2 percent a decade earlier.

Global Islamic finance assets had an estimated value of $1.8 trillion in 2014 and are expected to almost double by 2020 to reach $3.2 trillion, according to the ICD Thomson Reuters Islamic Finance Development Indicator.

The projections come ahead of the 2015 World Islamic Banking Conference (WIBC 2015), which will be hosted by Thomson Reuters, the world's leading provider of intelligent information for businesses and professionals, and The Islamic Research and Training Institute (IRTI), an affiliate of the Islamic Development Bank Group.