Hussain Hussan, a director in the structuring team at Deutsche Bank in Dubai, estimates that about $6bn- $7bn-worth of sharia-compliant structured products have been issued to date. That is a minuscule amount compared with the amount of conventional structured products that have so far been issued, or even when considering that the Islamic investment market is estimated to be worth more than $400bn, but the sector is growing exponentially.
Almost all the major conventional banks are interested and involved in developing this segment of the market alongside their wider Islamic finance offerings – and Mr Hussan reckons that related revenues are expected to grow at 18%-20% until 2010.
