The year 2014 proved to be a banner year for Islamic banking and finance industry across the world. Islamic financial assets crossed the $2 trillion mark the first time ever.
Apart from a rapid increase in the Islamic financial assets, Islamic Banking & Finance industry reached new destinations previously unknown to Islamic Finance. Countries as South Korea, Australia, Hong Kong, Argentina, UK, Luxembourg, South Africa, Malta and China started looking at the industry more positively. Some of them even started offering their first-ever Sukuk debut during the year.
Islamic banking and finance industry further solidified its position in its traditional markets – Malaysia, Indonesia, Pakistan and the Middle East. Many other countries also jumped on the bandwagon of Islamic Banking & Finance industry. These include but not limited to Russia, Morocco, Tunis, Azerbaijan, Kazakhstan, Libya, Oman, Nigeria, Tanzania, Madagascar, Uganda, and South Africa.