Global trends in Islamic finance

Following the trends of the last few years, existing markets in Islamic finance will continue to grow for the unforeseeable future. A shift from state-owned to private assets will likely promote the use of shari`a compliant funds. The extent to which Muslim populations pursue matters of faith will also have a significant effect on the growth of Islamic finance. The cultural influences of globalization and the ensuing response by Muslim countries is another complex factor facing developments in Islamic finance. More rapid growth increases could be achieved and new markets explored in securitization, growth that would be aided by greater standardization. In order for Islamic finance to expand to serve Muslims in non-Muslim majority countries, better market research needs to be conducted and services provided that gear towards borrowing. In Western countries, there is a political element that in many cases does, but certainly should not, impede access by Muslims to financial products that