THE SPREAD OF ISLAMIC FINANCE Islamic finance reached a significant size in the Middle East and
The size of the financial sector is 8-10 times the size of the global
Malaysia in the 2000s. It sees limited demand from Turkey, as the
gross domestic product. The 2008 crisis, in particular, highlighted
country is integrated into the global banking system. Over the
the risks of this imbalance. The rise of Islamic finance, the capital
past five years, Islamic banking has also started to grow in Africa
system which is based on net assets, really came after 2008.
and Asia.
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