|
The 8th Islamic Financial Services Board (IFSB) Summit themed "Enhancing Global Financial Stability: Challenges and Opportunities for Islamic Finance" is held in Luxembourg and hosted by the Luxembourg Central Bank. Amidst the more challenging environment presented by financial crisis, the Summit noted that performance of the Islamic financial services industry has been remarkable in recent years. This is reflected in the phenomenal growth of assets, reaching about fifteen percent per annum during the last decade. The growth has been across all asset classes, including banking, Takaful, asset management and Sukuk. Islamic financial services have also expanded into new geographical areas. The strengthening of Islamic finance in the Middle East, its gathering momentum in emerging...
|