The 8th International Islamic Finance Forum to be held from 26th-29th September 2005 in the historic city of Istanbul is expected to build further on the huge success of the September 2004 event, which attracted over 350 attendees from around the globe. Islamic financial wealth and power plays a major part in the worlds overall economic development.
Facts and figures: Islamic banks will account for 40% to 50% of total savings of the Muslim population worldwide within 8 to 10 years; Global Bond Market: Islamic bonds are currently estimated at around US$30 billion and are the ‘hot issue’ in Islamic finance; Worldwide banks: There are around 270 Islamic banks worldwide with a market capitalization in excess of US$13 billion; Assets And Investments: Assets of Islamic banks worldwide are estimated at more than US$265 billion and financial investments above US$400 billion; Global Deposits: Islamic bank deposits are estimated at over US$202 billion worldwide with average growth between 10 and 20%; Funds Growth: Islamic equity fund are estimated at more than US$3.3 billion worldwide with growth of more than 25% over seven years;Takaful Growing: The global Takaful premium is estimated at around US$2 billion; The Middle East market is reported growing at 15 to 20% per year; Fund Launches: Between 1994 and 2001, around 120 Islamic funds were launched.
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