THE RISE OF ISLAMIC FINANCE

The aggregate capital of Islamic banks has grown from 200 billion USD to 3 trillion USD since the year 2000. Moreover, the share of Islamic finance in the global financial system sits between 5 and 6 percent, but according to analyst reports, the sector is expected to grow by 19.7 percent annually through 2018.

Is Sri Lanka geared up to tap this under utilized resources?

When other countries are aggressively moving towards developing the Islamic Finance industry, Sri Lanka, that has over 20 years of Islamic Banking industry, is still crawling.

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