Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law (Sharia).  Specifically, Islamic law prohibits the collection and payment of interest. In the late 20th century a number of Islamic Banks were founded to cater to this particular banking market.  Since that time, Islamic Banking & Finance has become a force to be reckoned with. The provision of banking services adhering to Shari’a rules has grown to such an extent that many conventional banks, both Middle-Eastern and Western, have realized that it is a segment that demands their attention.

Large & Growing Market

Today the market size is estimated to be growing at the rate of 15% per annum. Islamic banks currently operate in approximately 75 countries and the industry has a market estimated at over US$400 billion globally.

World-Wide Appeal

Although the Middle East is still home to most of the world’s 250-plus Islamic banks, a growing number of banks operating in the marketplace are domiciled elsewhere. Local financial institutions are being joined by multi-national banks in investing in this growing market segment.
 

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Opics Plus

Opics Plus Islamic Treasury Fact Sheet