It appears that International Islamic Liquidity Management Corp. plans to sell $1 billion of the first global Shariah-compliant dollar bills by the middle of the year.
The Kuala Lumpur-based Islamic Financial Services Board forsees a growth from $1 trillion industry to $2.8 trillion by 2015.
It seems that the growth in Malaysia’s Islamic banking deposits has passed non-Shariah-compliant counterparts by almost three times, increasing an average 17.6 % over the past 10 years, compared with 7.1%.