Middle East Economic Survey

VOL. LII

No 29

20-Jul-2009

REGIONAL

Shari'a Assets Grow In GCC, Asian Markets In 2008

Shari'a compliant assets under management in the Gulf Cooperation Council (GCC) countries and Asia reached $736bn in 2008 compared to $267bn in 2007, said the third annual Ernst & YoungIslamicFunds and Investments Report 2009. Although the Islamic asset management industry has a potential revenue pool of $3.86bn, the size of funds remained small with over 50% having assets under...