Islamic finance industry assets surpass $2tn-mark:
"The new Islamic Financial Services Industry Stability Report 2018 released by the Islamic Financial Services Board (IFSB) in Kuala Lumpur on June 8 confirms earlier forecasts that the global Islamic finance industry now has surpassed the $2tn-mark in assets across its three main sectors: Banking, capital markets and takaful. Total assets were valued at $2.05tn as of the end of 2017, marking 8.3% growth in US dollar terms year-on-year and reversing the preceding two years of near stagnation of asset value of $1.89tn in 2016 and $1.88tn in 2015. The report says that the strong growth momentum in Islamic finance is mainly owing to the global economic recovery in 2017 which had witnessed its most assured sign of business confidence since the global financial crisis in 2008 among most market participants. An increase in investment activities and manufacturing output, as well as some respite for oil-producing and oil-exporting countries from the improvement in crude oil prices during the second half of 2017 were also part of the positive picture."
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