SWIFT The global provider of secure financial
messaging services

Islamic Finance

Standardising and automating Islamic Finance processing

Over the past few years Islamic Finance has received increasing attention from the global financial industry, not least because of the remarkable growth Sharia compliant assets have experienced. Since 1975, assets have grown by 15 - 20% per annum, whilst in 2008, the value of Sharia compliant assets grew by 28.6%.

The value of the Islamic Finance market is valued at approximately USD $1 trillion (2010). Whilst this value is small when compared to global market capitalisation (Islamic assets represent approximately 1 - 2% of global assets), the growth rate is impressive and expected to continue.

These assets are predominantly located amongst banks in the Middle East and Malaysia.

More than 240 Islamic banks are already Members of SWIFT today. These banks represent 84% of global Sharia compliant assets. In 2010 these banks sent more than 50 million messages over SWIFT, covering transactions involving payments, foreign exchange, securities settlement and mutual fund processing.