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Follow on Google News | Demand for Shariah-compliant finance to soarLondon, Thursday, February 21, 2008 -- ARANCA NEWSTRACK – (aranca)
By: Aranca Researchers from management consultancy Accenture have forecast that demand for products that are compatible with Islamic law will grow by 12 per cent annually in this timeframe. This would bring the size of the market to $35 billion in 12 years - up from its present level of $10 billion. The boom will be driven by Muslims who are domiciled in European countries and the US, City AM reports. However, Markets set to see the most rapid rate of growth include Turkey and Malaysia as well as emerging economies such as Egypt, Indonesia and Morocco, which are anticipated to expand in size by around 20 per cent annually. Shariah-compliant products take into account the fact that usury - interest payments - is forbidden under Islamic law and bar investments in gambling, pornography, alcohol and pork products. # # # About Aranca Aranca is an end-to-end provider of on-demand, investment, business and economic research, and valuation services to global clients. Our unique blend of market knowledge,flexible servicing models, quality assurance standards and offshore operations reward our clients with high quality, scalable, cost-effective research and valuation services. With client facing offices in San Francisco, New York, London, Brussels and Mumbai. syndicate@aranca.com Website: www.aranca.com End
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