The global sukuk market is big business. With a value predicted to hit $70 billion by mid-2008 and continue on to as much as $225 billion by 2010, the major financial institutions are starting to take notice. BM spoke with BarCap’s Arul Kandasamy to find out more.
Now managing funds in excess of $800 billion, Islamic financial institutions are predicted to become even more popular. Geoffrey Gresh takes a look at the realities of religious finance and considers the possibility of other faiths getting in on the act.
For the Gulf States IT spend in the financial sector reached nearly a $1b in 2005 and is set to grow by a compound rate of 10 percent through to the end of the outlook period, 2010, rising to US$1.5b, says Parveen Bansal, senior research analyst for the Financial Insights' European Financial Services.