BAHRAIN: The local Islamic mutual funds industry is one of the fastest growing segments of the kingdom’s financial sector, according Abdul Rahman Mohammed Al-Baker, the executive director of financial institutions supervision at the Central Bank of Bahrain.
“With around US$9 billion in assets under management, through more than 2,700 funds, the industry has been growing at an annual average of about 15% in recent years. Overall, there are 100 Islamic funds incorporated and registered in Bahrain with total assets of US$1.7 billion as of March,” he added.