Islamic Finance Take-Off

September 2006 | Fund News

As we have been reporting, the niche area of Islamic Finance is undergoing speedy growth with increasing significance in global capital markets. Sharia (Islamic Law) compliant instruments and strategies are undergoing a swift evolution and proliferation, in large part due to high levels of oil-revenue-induced liquidity in the Muslim world. Demand for financial products far outstrips supply, driving the creative drive for a broader spectrum of investment avenues. Another catalyst, spurring the previously weak demand for derivatives, is the stock market crash - after a long bull market - that hit many Gulf Arab bourses earlier this year. Critically,

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