Accolades Recognise Pillars of Islamic Finance Industry

LONDON, February 23, 2012 /PRNewswire/ --

With Islamic finance now gaining presence around the globe, World Finance is pleased to present the winners of the Islamic Finance Awards, acknowledging the exemplary actors in this exciting sector.

Recent growth in the sector has been enormous: It had an estimated $1.2trn of assets under management as of the end of 2011 - a sum which is expected to quadruple within the next three years. Interest in Islamic products outside of indigenous markets has grown, and with it has come wider exposure of the benefits that the products have to offer.

The ethical approach to lending propagated by Islamic financial products has proved very appealing to investors. Those left jaded by the huge losses incurred during the downturn would note the limited impact that period had upon Islamic finance institutions, thanks to the closer relations they enjoy with their borrowers and their avoidance of derivative products.

Certain Islamic financial products have also promoted integration of financial markets. Sukuk, or Islamic bonds, have provided a medium for investors to become involved in significant marketplaces that are only accessible via Sharia products. The significance of these new market horizons are reflected in the number of major international banks now preparing their own Islamic financial products as a means to gain access to new investments.

Appreciating such a potent sector, World Finance has recognised the leading figures in the industry through an award process. These are established institutions which have led the way with products that have delivered for investors both within and outside of the Islamic world. Through these awards, World Finance offers its highest recommendation of these companies and wishes them the greatest success in this expanding marketplace.

Find more on Islamic finance in the March-April edition of World Finance, available in retailers now.

A full list of winners for the Islamic Finance Awards can be found at: http://www.worldfinance.com/awards/2012-islamic-finance-awards/