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The current Muslim population of the world is at least one billion. It is estimated that the Middle East houses around 15 per cent of the world's Muslims. This explains why the greatest concentration of Islamic financial activities is in this region.
Today, more than 250 Islamic banks (90 institutions of them are in the Middle East) are operating from China to the US. Western banks, through their Islamic Units in U.K, Germany, Switzerland, Luxembourg, and others countries also practice Islamic banking.
Growth prospects of Islamic financial institutions
Pure-play Islamic Banks and financial institutions manage over $250 billion of assets and a further $200- 300 billion is managed by the Islamic windows and subsidiaries of international banks...
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