Applied Islamic financial sectors (Banking, Finance, Investment, Takaful & Capital market) have developed into a global dimension, which is highly dynamic and growing rapidly with utmost appreciated by almost every major sectors of the contemporary world of advance tech-economy.
There are more than 450 Islamic financial institutions worldwide in operation with asset size estimated at about $ 1.3 trillions, financial investments are above US$ 800 billions and a growth rate estimated to be around 18% p.a.
Among the master players of Islamic finance in the contemporary world are the Middle East, Malaysia, Iran, Indonesia, Brunei, Singapore, North America, Pakistan, Bangladesh, South-West Africa, Germany, Central Asia, Egypt, India, Srilanka and the U.K.
The cliental of Islamic financial institutions are not confined to Muslim countries, but are spread over Europe, U.S.A, South Asia, South East Asia, Asia Pacific, Central Asia and the Far East.
Providers are not confined to local institutions as global players increasingly playing major roles in the industry today by aiming the global appreciation from all regardless of the issue of one’s religion, color, culture, nationality or status with holistic universal value for all humanity. ……… (ma’sum billah @ 2011).
The above achievements are due to an effective appreciation & operation of Islamic finance by adapting the principle of "asset backed risk sharing techniques" in its capacity as the approved theme.
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