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%.
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.