Islamic Finance Industry Has Grown 20 Percent Since 2000: AMF

Abu Dhabi, 3 Rabi’ul Akhir 1437/13 January 2016 (MINA) – Islamic services and products have seen significant growth over the recent years, said Director-General and Chairman of the Board of Arab Monetary Fund (AMF) Dr. Abdulrahman Al Hamidy.

Since 2000, the Islamic finance industry has grown by up to 20 percent to $2 trillion by the end of 2014,” he added, International Islamic News Agency (MINA) quoted by Mi’raj Islamic News Agency (MINA) as reporting.

He noted that the delivery of Islamic insurance services offered a testament to the robust evolvement and expansion of the Sharia-compliant banking services and solutions.

”We expect that growth to accelerate with rapid pace driven by increasing demand for these services and willingness of banks including traditional actors to offer Islamic financial services,” Al Hamidy said in his welcome address at the four-day Islamic Insurance (Takaful) programme.

Twenty-four participants from 12 countries are attending the event, which is being jointly organized by the Abu Dhabi-based AMF and the World Bank. (T/P006/R07)

Mi’raj Islamic News Agency (MINA)