The Young World of Islamic Finance

There are several ways to raise public awareness about Islamic products and services. These include public education activities, incorporating Islamic Bank concepts into school curriculum, making Islamic finance courses part of the business curriculum, and providing a comprehensive degree program in Islamic finance I will. Development of Islamic finance in Malaysia The development of Islamic finance in Malaysia began with the first Islamic savings institution founded in 1963 by Tabung Haji.

In order to finance expanding domestic and international trade, the Islamic world mobilized "the entire monastic resource pool of the Middle African Islamic world" to fund agriculture, crafts, manufacturing and long distance trade We established a financial system (Udovitch), 1970, 180 and 261). The treasurer is called Service-to-Self. By Abbasid Caliph al-Muqtadir (908-32), they began to perform most of the basic functions of modern banking services (Fischel, 1992). It has its own market resembling Wall Street in New York and Lombard Street in London and meets all banking needs of business, agriculture and industry (Duri, 1986, p. 898). This will encourage the use of checks (sakk) and letters of credit (hawala). Word check from Arabic

Since 2000, especially in the past decade, the Islamic financial industry has appeared on a global scale. Consultancy.uk, according to Islamic finance, in "Islamic Bank Competitiveness Report" from 2014 to 2015 by 2018, Ernst & Young said that global banking assets grew 17% from 2009 to 2013 He said that he achieved it. The assets are expected to exceed 3 trillion dollars - Islamic banking assets are matured in 2014 in the Gulf countries, Iran, Malaysia, Indonesia, Turkey and Pakistan.

There is no doubt that Islamic finance and banking has evolved into an important market that will play an important role and focus in the global financial industry. Indeed, the Islamic finance industry is growing at an annual rate of 10% to 15% maturity, so the Islamic finance industry shows leading growth and growth (Hancock, 2013). There is no indication that this trend will slow in the future (2013)