As the Islamic finance industry continues to be one of the fastest growing components of the global financial system, with an estimated growth rate of 15 percent - 20 percent, international markets are witnessing an expanding demand for Islamic financial products and services - even beyond the traditional markets of South East Asia and the Middle East. The Islamic funds and investments industry has seen steady growth over the past decade due to the growing global demand for Shariah-compliant financial products and services and a significant increase in the number of institutions structuring Islamic investment products. According to Ernst & Young the Islamic funds industry grew to $58 billion, achieving a growth of 7.6 percent in 2010. Held under the theme "New Growth Horizons: Expanding The Global Footprint of Islamic Funds and Investments", the two-day 8th Annual World Islamic Funds and Financial Markets Conference (WIFFMC 2012) starts today (May 20) in Manama, Bahrain. Leading players, industry thought leaders and key regulators in the international Islamic funds and investments industry for gather for discussions that will seek to capitalize on the new opportunities and chart the future direction of the global Shariah-compliant funds and investments industry. The event, held under the official patronage of the Central Bank of Bahrain, will be officially inaugurated with an opening keynote address by Abdul Rahman Mohammed Al Baker, Executive Director - Financial Institutions Supervision at the Central Bank of Bahrain. Speaking ahead of the event, Abdul Rahman Mohammed Al Baker said "as with other forms of Islamic finance, the Islamic funds industry has grown to become an increasingly substantial segment within the global financial markets and has gained significant interest as a viable and efficient alternative model of financial intermediation. Growing awareness and increasing demand for investing in accordance with h principles on a global scale have been the catalyst towards making the Islamic financial services industry a flourishing industry. This is also a reflection of the increasing wealth and capacity of investors, both Muslim and non-Muslim, to seek and invest in new investment products that serve their needs."
