IslamicFinance.de

The Malaysia International Islamic Finance Center (MIFC) published in cooperation with the Islamic Corporation for the Development of the Private Sector (ICD) the latest report entitled “Islamic finance in Asia: Reaching new heights”. According to the report, Asia’s Islamic finance assets registered an annual growth of 8.4% between 2011 and 2016 and stood at $528.7bn, or 26% of the world’s Shariah-compliant financial assets, at the end of 2017. Furthermore, Asia has grown to the largest market for sukuk. $52.3bn or 52.5% of all newly issued sukuk came from Asia in 2017, with most notable contributors being Hong Kong, Indonesia and Pakistan. The region also has a global market share of 60.7% of sukuk outstanding and is market leader in Islamic funds. The report states that Malaysia, Bangladesh, Brunei and Indonesia are currently among the most developed Islamic banking jurisdictions in Asia.