“Identifying Shariah-Compliant Equities a Challenging Task”
An October 28 International Business Times article cites the Booz & Company report, “Competing Successfully in Islamic Finance.” The report states that the “total volume of Islamic assets in 2008 is estimated to be US$ 500 billion. Additionally, in 2000 the total number of Islamic funds worldwide has been 102 funds growing annually with a CAGR of 28% and is expected to reach 925 funds in 2009.” The article discusses the demand for Shariah-compliant investment products among Islamic bank customers and the challenges this presents for the banks to adhere to the changing guidelines of the Shariah scholars.