التنمية

The financial crisis of 2007-2008 that led to the global crisis, brought a sharp contraction in the growth rates of global gross domestic product and, of aggregate global financial assets. The Islamic financial services industry, however, grew at an estimated compound annual growth rate of 20% per annum during 2007–2013, partly due to its limited exposure to risky financial instruments, growth from a low base as well as inherent strengths, to reach estimated total assets of USD1.8 trillion as at year-end 2013. The Islamic banking sector, which represents approximately 80% of total Islamic financial assets, was a major driver of this growth.