The document discusses the growth of Islamic finance globally. It notes that Islamic finance assets have grown over 160% from 2009 to 2011, reaching $1.80 trillion currently and are projected to reach $2.5 trillion by 2015. Three main reasons for this growth are identified: 1) the economic power shifting to Muslim-majority regions, 2) Islamic finance being seen as more ethical by both Muslim and non-Muslim scholars, and 3) greater transparency compared to conventional finance. However, the document also notes challenges in consolidating gains, preventing meltdowns, accelerating growth through proper understanding and implementation of Islamic finance principles and standards.

1. The Future of Islamic
Finance in a Global
Economy
Presented by
Md. Fariduddin Ahmed
Advisor
Export Import Bank of Bangladesh Limited
Former
Managing Director & Chief Executive Officer
Islami Bank Bangladesh Limited
Export Import Bank of Bangladesh Limited

2. The Future of Islamic Finance in a Global
Economy
 U.K. Western hub of Islamic Finance
 Maximizing products is their aim.
 Global growth 50 percent faster than traditional
sector.
 Shariah compliant assets rose by more than 160
percent between 2009 and 2011.
 Islamic Finance now (September 2013) $ 1.80
trillion (144 lac crore approx) which is likely to
grow to $ 2.5 trillion by 2015.
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3. The Future of Islamic Finance in a Global
Economy
 9th
World Islamic Economic Forum in London in
October 2013
 Three reasons for growth of Islamic Finance.
One - Economic power is shifting to East. China,
India, Middle East & South East Asia, Nigeria,
Turkey, etc.
Two - Islamic Finance is ethical. Apart from the
Islamic views, the scholars of others thoughts
recently expressed the following views:
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4. The Future of Islamic Finance in a Global
Economy
 Archbishop of Canterbury, Justin Welby ‘morality
of the city being overwhelmed by a culture of
entitlement’.
 Archbishop of West Minister, Vincent Nicholas ‘a
tendency for business people to feel they need to
adopt a different set of values in business than
those which they apply in the rest of their lives’.
 Pope Francis ‘Cult of Money and the dictatorship of
a faceless and inhuman economy’.
Three – Transparency.
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5. The Future of Islamic Finance in a Global
Economy
 Growing realization, ethics and business are not
adversaries.
 U.K. thinking to form Ministerial led Islamic
Finance Task Force for supporting the Market,
financing infrastructure, regulation, education and
communication.
 Accelerated growth & success depends on proper
understanding & implementation of the system.
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Ref: www.gov.uk/government/speeches/the future of islamic finance in-a-global economy.

6. The Future of Islamic Finance in a Global
Economy
 How to consolidate the gains made so far and
sustain itself.
 How to ward against any meltdown.
 How to grow.
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7. The Future of Islamic Finance in a Global
Economy
 Islamic Banks pure Financial Institutions.
 Islamic Banks Economic Institutions.
 Standardization of Islamic Products.
 Structure
1. Normal banking
2. Development finance institutions.
3. Micro finance
4. Mutual funds
5. Insurance companies.
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8. Allah Hafez