How Do Experts Envisage the Future of the Islamic Finance

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The Answer is Experts believe that Islamic finance will continue its significant growth path through offering more competitive Sharī'ah -compliant products. The future of the Islamic finance industry looks bright. It has promoted sustainable practices that ensure profitable transactions that do not negatively affect investors and shareholders alike. International standard-setting bodies such as AAOIFI, IFSB and International Islamic Fiqh Academy plays a great role in guiding the industry. The Islamic finance industry gained a reputable name after the global financial meltdown in the early 21^st century because most of the underlying causes of the crisis were practices forbidden in Islam. Since the search for a new monetary system is underway globally, Islamic finance seems to be a suitable alternative mode of finance in the modern world. The growing recognition accorded to Islamic financial products in some European and American financial and insurance institutions in the post-financial crisis era attests to this projection. The global spread of Islamic finance products is expected to reach Latin America and other parts of the world.

How Do Experts Envisage the Future of the Islamic Finance

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How Do Experts Envisage the Future of the Islamic Finance

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