New frontiers for Islamic finance

New Islamic frontiers


Total assets invested in Asia ex-Japan exchange-traded funds (ETFs) hit $55.1 billion in October 2010, with the number of ETFs totalling 188 with 293 listings, according to iShares. To date, this growth momentum has yet to benefit the Islamic sector, with just three Islamic ETFs listed on Asian bourses. These three Islamic ETFs - listed in Malaysia, Singapore and India - have attracted $217 million in assets, or just 0.4% of the total market. However, this may be about to change. Islamic ETF