Islamic Financial Industry to Reach more than $2 Trillion in 2013

Source: mwcnews.net

The Secretary-General of the Supreme Council for Islamic Financial Banks, Azzedine Khoja, expected “a rise in [the] Islamic financial industry to $2 trillion in 2013”, noting that there were 390 banks and financial institutions throughout the Islamic world, with total assets of $700 billion.
He pointed out that by 2015 a large part of the traditional financial services in the GCC countries will be fully compatible with shari’a. He estimated the volume of Gulf Islamic bank assets to reach more than $280 billion in 2007, a 40% increase compared to 2006.

Dar al-Hayat, London, March 10, 2008