The Islamic mortgage market could grow dramatically if predictions over the future of Islamic finance in general come to pass.
According to Kuwait Finance House's KFH Research arm, a conservative estimate would be for the economic industry to grow to $1.6 trillion (£993 billion) by 2020.
The current rate of expansion in the Islamic finance market is an impressive 15 per cent per annum.
However, KFH Research spokeswoman Baljeet Kaur Grewal suggested that once the global markets get back to normal, the potential for growth could be even greater.
"We anticipate that once the global economy is normalised, growth could perpetuate about 20 to 21 per cent," she said.
The expert noted that the growth is mainly coming from "vast developments in emerging markets " and "a huge demand for Islamic instruments".
Ms Grewal added that the growth of the sukuk sector and the prevalence for high net-worth individuals demanding an increasing number of Islamic assets means the future looks bright for the industry.
Islamic mortgage market could grow dramatically
Thu, 30 Jun 2011
