The Growth of Islamic Banking

In the course of a few decades, Islamic banking has spread to the four corners of the Earth, into more than 51 countries having 300+ Sharia' complaint financial institutions worldwide. It is one of the fastest growing industries, posting double digit annual growth rate for more than thirty year. Today it is preferred way of banking for one fifth of humanity, and it offers its wide choice of financial products to all.

Such popularity has brought in controlling assets worth US$300 - US$500 and investments US$500 billion - US$800 billion, bringing the current estimated value of the industry to a total of $1 trillion by the end of 2008. Asset growth in the Islamic banking industry grew at a rate of 23.5% in the last 5 years and despite the global economic crisis many expect the Islamic banking industry to manage 40-50% of the total saving in 2020 with US$4 trillion potential for Islamic financial services where Muslim population is expected to reach 2.5 billion worldwide. Besides, volume of managed assets is expected to reach US$1.5 Trillion by 2013.

In the Middle East region with over 30 years of pioneering experience, Kuwait Finance House (KFH) has become a global leader in the Islamic banking industry and an authority on modern Islamic banking and finance.