Islamic finance assets to hit $1.1 trillion in 2012, says Ernst & Young
It is expected that Islamic finance assets around the world will climb 33 percent from their 2010 levels to 1.1 trillion US dollars by the end of 2012, boosted by the aftermath of the Arab Spring uprisings and dissatisfaction with conventional finance in the wake of the global debt crisis. The statement came from consultants from Ernst & Young.
Growth in the Middle East and North Africa will be particularly strong, with assets rising to a forseen $990 billion by 2015 from $416 billion in 2010, as new countries open up to Islamic finance.
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