(1888PressRelease)
February 27, 2008 - Researchers from management consultancy Accenture have forecast that demand for products that are compatible with Islamic law will grow by 12 per cent annually in this timeframe.
This would bring the size of the market to $35 billion in 12 years - up from its present level of $10 billion.
The boom will be driven by Muslims who are domiciled in European countries and the US, City AM reports.
However, Markets set to see the most rapid rate of growth include Turkey and Malaysia as well as emerging economies such as Egypt, Indonesia and Morocco, which are anticipated to expand in size by around 20 per cent annually.
Shariah-compliant products take into account the fact that usury - interest payments - is forbidden under Islamic law and bar investments in gambling, pornography, alcohol and pork products.
Copyright and Disclaimer:
Copyright 2007, Aranca. All Rights Reserved.
All the contents of this Site are only for general information or use. They do not constitute advice and should not be relied upon in making (or refraining from making) any decision.
Editors/Journalists/Blogs are invited to request republishing/dissemination rights. All requests to republish Aranca material for distribution should be addressed to:
Aranca Syndication Service at syndicate ( @ ) aranca dot com dot
Tel: +91.22.4005 2219 / +91.22.6725 8115
