Federal Reserve Bank of San Francisco

Islamic Finance: Malaysia’s Growing Role

Author(s): Sarah Gearen

July 2009

Asia Focus

Over the course of the last four decades, Islamic finance has evolved from a market with one institution in a single country in 1975, to one with more than 300 institutions operating in more than 75 countries today. Analysts estimate that total assets in the Islamic finance market are between US$750 and US$800 billion as of July 2009, and may exceed US$1 trillion in 2010. Among Asian countries, Malaysia’s role in Islamic finance is unique.

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