IslamicFinance.de

Sharia-compliant funds have suffered their worst sales in four years as the price of oil plummets and tensions in the Middle East spook investors. Sales of the products fell more than 75 per cent last year compared with 2014. The slowdown is a big setback for the fledgling $60bn Islamic fund industry, which only began finding its feet in recent years, and raises questions about the products’ prospects. As recently as 2013, the Islamic fund industry was growing at a rate of 10 per cent a year. However, because a large number of investors in Islamic funds are based in countries dependent on oil or commodities for their wealth, the fall in the price of oil has had a large impact on sales.