AIBIM:Islamic Finance to see 10-15pc growth over next five years

The domestic Islamic finance asset is expected to continue posting double-digit growth at between 10 per cent to 15 per cent over the next five years, said the Association of Islamic Banking Institutions Malaysia (AIBIM). Products like takaful, will, consumer and corporate products are all maturing and with such maturity level, Islamic finance also grows, said its President Datuk Mohd Redza Shah Abdul Wahid after a briefing on the upcoming Global Islamic Finance Forum (GIFF 2014) here today. GIFF 2014 will be held from September 2 to 4, in Malaysia, discussing key issues in the development of Islamic finance industry. The association today revealed the domestic Islamic finance market share now stands at 24.2 per cent, estimated to be worth RM548 billion.