Islamic finance potential could reach $1.6 trillion

Beside the mainstream conventional banks which focuses on profit, Islamic financing (IF) and banks should be taken into consideration in financing the total $8-trillion infrastructure investment needs in Asia, as the whole Islamic funding community has $1.6-trillion lending capability for infrastructure projects.

Baljeet Kaur Grewal, managing director and vice chairman of Malaysia-based research firm Kuwait Finance House Research Ltd., told reporters at the Islamic Financing forum of the Asian Development Bank (ADB) and the Islamic Financial Services Board (IFSB) that the Islamic funding sources are “too large to ignore,” as it grows at a high rate of 20.4 percent yearly.