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11th September 2012

Sukuk to grow 3 fold in 5 years forecast
Trend

Ernst & Young is forecasting a three fold growth in Sukuk, Sharia law compliant securities, during the next five years. The market is currently estimated at $300bn and expected to top $900bn (€708bn £564bn ¥71.0tr Y5,709bn) in 2017.

The Ernst & Young Global Islamic Banking Centre of Excellence suggests that in addition to Islamic banks and markets there is growing interest from European organisations requiring to look outside of Europe for new capital.