GLOBAL: Islamic assets grew at an average rate of 15-20% per year over the past decade to reach approximately US$1.3 trillion in 2011, according to a report by Kuwait Finance House (KFH) Research.
The growth has been attributed to the growing demand and preference for Shariah compliant financial products, backed by rising wealth and excess liquidity from high oil prices.
KFH Research also sees tremendous growth potential in the Islamic wealth management industry, driven by the increasing population of high net worth individuals and the improvement in investor confidence.
It added that the global wealth management sector is expected to grow at an annual average rate of 6% from 2012-2015 to reach US$162 trillion, despite expected an slowdown in the global economy.