IslamicFinance.de

Despite the surge and purported popularity of Islamic finance, the industry is inconsequential in comparison to conventional finance. Islamic finance assets are heavily concentrated in the Middle East and Asia, and overwhelmingly in the Islamic banking sector. The Great Financial Crisis has caused a fundamental loss of trust by the general public in the financial system. Islamic finance should capitalise on this opportunity by highlighting its ethical standards and risk sharing principles. Nevertheless, there is a long road ahead for Islamic finance to achieve mainstream status. GCC governments need to take the lead to mainstream Islamic finance.