Islamic Finance Assets To Grow 10-15% Annually, World Bank Director Says
News: Islamic finance assets across the globe are expected to grow between 10% and 15% on an annual basis over the next three years on the back of strong demand for islamic banking products and services, according to World Bank Managing Director Mahmoud Mohieldin. The growth will also be driven by effective regulation and quality of services. The growth related to the supply side would be driven by competition as more banks worldwide are looking forward to offer Islamic finance and profit and loss sharing products. Diversity of Islamic finance products and development related to harmonisation of standards and regulation in Islamic finance has attracted more participants to Islamic finance.