While the performance of the conventional banking industry continues to be weighed down by the prevailing global financial crisis, the Islamic finance sector has maintained its upward march on growth over the past few years.
Total assets at sharia-compliant institutions grew by 8.67% from $1166bn in 2012 to $1267bn in 2013, according to The Banker’s Top Islamic Financial Institutions report published in November 2013. This marks the seventh consecutive year of growth and translates to a compound annual growth rate of 16.02% since the first report was published in 2006.
