<p>A report prepared by global consultancy firm Ernst & Young has said that Islamic banking is all set to cross the $1trillion mark this year, up from $826 billion in 2010, adding that the time is just right to establish Islamic sovereign wealth funds to “champion the growing internalisation” of the industry.<br /><br /></p>.<p>The “World Islamic Banking Competitive Report 2011-12” was prepared by Ashar M Nazim, Islamic Financial Services Leader and Imtiaz Ibrahim, Senior Director, Islamic Financial Services at Ernst &Young and released at the World Islamic Banking Conference held in Bahrain from December 9 to 11, 2012.<br /><br />The report said that growth within the Muslim population of Middle East and North African countries and Asia are key drivers behind increasing demand for Islamic financial services. <br /></p>
<p>A report prepared by global consultancy firm Ernst & Young has said that Islamic banking is all set to cross the $1trillion mark this year, up from $826 billion in 2010, adding that the time is just right to establish Islamic sovereign wealth funds to “champion the growing internalisation” of the industry.<br /><br /></p>.<p>The “World Islamic Banking Competitive Report 2011-12” was prepared by Ashar M Nazim, Islamic Financial Services Leader and Imtiaz Ibrahim, Senior Director, Islamic Financial Services at Ernst &Young and released at the World Islamic Banking Conference held in Bahrain from December 9 to 11, 2012.<br /><br />The report said that growth within the Muslim population of Middle East and North African countries and Asia are key drivers behind increasing demand for Islamic financial services. <br /></p>
