Economist: “Big interest, no interest”

Some facts reported in 13 September issue:

Islamic banking assets grew at annual rate of 17.6% between 2009-2013, and will grow by an average of 19.7% a year to 2018 (Ernst and Young).

Total global assets around USD2 trillion.

Nearly 80% to Islamic banks or windows (according to Malaysian Central Bank), and sukuk 15%.

Regarding sukuk: USD296 billion outstanding in July, sovereign share is 36% (Moody’s). Bank of Tokyo-Mitsubishi UFJ and Societe Generale have issues in the works.

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