IslamicFinance.de

The standards for Islamic asset management should be raised so that it can compete with conventional peers. according to Fajar Capital Group CEO Iqbal Khan. He said though the Islamic asset management industry remains marginal and fragmented and continues to lag behind conventional systems, its characteristics to compete in the market through values, ethics and authenticity will prove to be advantageous in the future. He added that global Islamic finance assets were expected to hit US$1.8 trillion in 2013, and Islamic asset management is expected to grow around US$300 million to US$500 million this year. He said Malaysia played a leading role, with a well structured approach, in the Islamic wealth management industry and hoped that Malaysia will export its success story to the rest of the Islamic world.