World Islamic assets at $1.3tr

Islamic financial institutions manage assets of USD 1.3 trillion across the world, said the Governor State Bank of Pakistan (SBP) Yaseen Anwar. The governor said growing annually by more than 20 percent, the Islamic financial industry has spread beyond Muslim countries and is now operative in more than 75 countries with a network of 430 Islamic banks. He was highlighting dynamics of the Islamic financial industry at the launching ceremony of Islamic Banking Media Campaign to create awareness among the masses about Islamic Banking and brush aside misconception regarding Shariah compliant financial products.