Islamic finance industry reached $2 trillion in 2014

Islamic services and products have seen significant growth over the recent years, said Dr. Abdulrahman Al Hamidy, Director-General and Chairman of the Board of Arab Monetary Fund (AMF). Al Hamidy said in his welcome address at the four-day Islamic Insuranceprogramme that since 2000, the Islamic finance industry has grown by up to 20 percent to US$2 trillion by the end of 2014. He noted that the delivery of Islamic insurance services offered a testament to the robust evolvement and expansion of the Sharia-compliant banking services and solutions. Twenty-four participants from 12 countries are attending the event, which is being jointly organised by the Abu Dhabi-based AMF and the World Bank.