Investor confidence in Islamic bond surges despite crisis

19:36, May 19, 2010      

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Indonesian President Susilo Bambang Yudhoyono said here on Wednesday that investor confidence had surged in the Islamic bond market in 2009 despite the global financial crisis.

Susilo said at the Sixth World Islamic Economic Forum that Islamic bond sales totalled 17.3 billion U.S. dollars as of November 2009.

"Islamic banking assets rose by almost 29 percent to 822 billion U.S. dollars, compared to a 6.8 percent growth in traditional banking assets.

"Indonesia is proud to be part of that growth, with its 650 million U.S. dollar denominated Islamic bond being hailed as a ground-breaking event during the period," said Susilo.

According to Susilo, Muslims comprised 23 percent of humankind, or 1.6 billion out of the world's 6.8 billion human beings.

Although Islamic finance accounted for only one half of one percent of all financial assets in the world, it was fast growing, not only in Islamic world, but also non-Islamic states.

Source: Xinhua


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