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Islamic finance and its come back after the last economic crash

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  1. Introduction
  2. Impact on Islamic finance and its come back
  3. Islamic finance
  4. Islamic finance and its come back after the last economic crash
  5. Conclusion

The economic crash took place between 2007 and 2008. It originated from the United States. It is the worst economic crisis that has ever hit the world up to today. It has become a global issue, hitting economies in all countries. It has led to the fall or decline in the economies, markets and institutions that are recognized as the core to the global financial system (Mizanur, 2014). It has badly damaged well established financial institutions like Citibank, AIG and Lehman Brothers which are termed to be too big to fail. However, signifant financial institutions in the Islamic countries continue to show growth over the years. Even with the crisis that has faced many economies, Islamic finance is sheltered from the global crisis. Islamic financial assets increased from $600 billion to $1.3 trillion between 2007 and 2012. Top Islamic banking and financial institutions have continued to grow economically, though slow, of around 30 percent from 2008 onwards (Mizanur, 2014). Islamic banks that operate within Gulf Corporation Council countries maintain their work base or even recruit more workers. Islamic banks such as Dubai Islamic bank, Al-Rajhi Bank, Maybank Islam and Kuwait Finance House continue to grow steadily.

[...] Countries like China and India remain as the fast growing economies in the world. To support this argument of the 25 world's fastest growing economies come from the Muslim countries (Foreign & Commonwealth Office, 2013). It has taken the advantage of today's ethical finance as stepping stone towards building its economy. Conclusion It concluded that the global economic crisis has not impacted on the Islamic finance. Islamic countries have taken this opportunity to expand their finance industry to foreign non- ISLAMIC FINANCE AND ITS COME BACK AFTER THE LAST ECONOMIC CRASH Islamic countries. [...]


[...] It has badly damaged well established financial institutions like Citibank, AIG and Lehman Brothers which are termed to be too big to fail. However, signifant financial institutions in the Islamic countries continue to show growth over the years. Impact on Islamic finance and its come back Even with the crisis that has faced many economies, Islamic finance is sheltered from the global crisis. Islamic financial assets increased from $600 billion to $ 1.3 trillion between 2007 and 2012. Top Islamic banking and financial institutions have continued to grow economically, though slow, of around 30 percent from 2008 onwards (Mizanur, 2014). [...]


[...] With the addition of the younger economies in the Islamic finance circle, more advantage is created on the Islamic finance to grow over the other economies. Low impacts of the economic crisis are due to the Islamic banking virtues and merits. Even with the growing crisis, demand of the services provided by these institutions continues to grow throughout the Islamic countries and other western countries like the United States, United Kingdom, Thailand and Singapore. Islamic investors have taken the opportunity to invest in foreign countries as mentioned above, including Australia, china and India. [...]

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