Franco-American Alliance for Islamic Finance (FAAIF) Chief Executive Officer Camille Paldi recently participated in the Islamic Funds event in Manama, Bahrain.
As of 2012, more than 750 Islamic Investment Funds have been established globally — managing total assets of an estimated $60 billion.
Hot spots for global Islamic investment funds include Luxembourg and the Cayman Islands, with Luxembourg offering 3.5 percent of the total of Islamic funds and the Cayman Islands with 5.5 percent of the total Islamic funds offering. International fund managers offer offshore funds in the Middle East by using Bahrain, the United Arab Emirates and Qatar as distribution platforms.
Islamic asset management is also growing rapidly in the Asia-Pacific region including Brunei,
China,
Indonesia, Japan,
Malaysia, Singapore and South Korea.
Noripah Kamso, author of “Investing in Islamic Funds, A Practitioner’s Perspective,” said Islamic investment funds are no longer seen as an alternative investment, but are regarded as conventional and competitive. Kamso said financial centers from
Bahrain, Dubai,
Hong Kong,
London
Malaysia and Singapore are leading the global Islamic Investment fund initiative.
FAAIF Limited is a legal and management consultancy firm serving clients in the legal, Islamic banking, finance, takaful, and halal industry. More information can be found online at http://www.faaif.com.
