IslamicFinance.de

Growing demand for asset-based investments in times of fiscal insecurity in major economies in the world and the fact that still only a small portion of the estimated $11.5tn worth of wealth owned by Muslim individuals, institutions and governments is managed by Islamic financial institutions has turned the attention of investors towards Islamic wealth management. According to Malaysia-based International Shariah Research Academy for Islamic Finance (ISRA), there is a lot of potential to tap for Islamic wealth managers: As of the fourth quarter of 2015, total global Islamic assets under management were "just" $58bn and the number of Islamic funds worldwide stood at a meagre 1,053. This compares to $56.4tn of wealth owned by all high-net worth individuals globally combined and to more than 9,200 investment funds in the US alone.