Islamic assets set to reach $5trn
Shariah assets worlwide are estimated to reach $900 billion to $1 trillion, which is three times the size of China's mutual fund asset base. It is expected that it expands to $4 trillion to $5 trillion by 2015.
The positive fact for asset managers is that this money currently has few places to go.
In some markets with large Muslim populations, the request for investment products based on Islamic law, or Shariah, exceed supply. In India, for example, about 50 per cent of the 160 million Muslims were found to be excluded from the financial sector.