Globally, Islamic finance has been steadily making inroads into the mainstream financial market, growing at around 20%-30% on average annually over the last 10 years. Rising awareness, government initiatives and oil wealth have turned Islamic finance into an industry with US$1 trillion (RM3.3 trillion) in assets globally. Over the next eight to 10 years, it is expected to quadruple to US$4 trillion.
Being one of the “big 4” global centres in Islamic finance, Malaysia is well positioned to take advantage of the market opportunities. This publication discusses how Malaysia is developing its Islamic finance industry and presence regionally and globally.