Islamic Fund Management
4
The following spider charts encapsulate the current state of each case country’s Islamic fund
management industry and the areas, which need to be further enhanced to facilitate the
industry’s progression:
Malaysia
 Categorised as ‘matured’ due to
its level of market maturity.
 Each factor was ranked
favourably denoting the strong
eco-system that the government
and regulators have developed to
support a thriving Islamic fund
management industry.
 Nevertheless, there is room for
further improvements which are
discussed in detail in the
respective case country section.
Pakistan
 Categorised as ‘developing’
(advanced stage) in view of a
growing equity and sukuk
market.
 The government and regulators
have made concerted efforts to
improve the policies and
guidelines supporting the
country’s Islamic finance
industry.
 As market activities improve, so
will the level of progression for
the variables denoted in the
spider chart.
Morocco
 Morocco’s Islamic finance
industry is still in a nascent stage
hence its categorisation as
‘infancy’.
 The country’s Islamic capital
market has yet to be established.
Only Islamic banking has been
made available, having
commenced operations in 2017.
 Its spider chart depicts the above
conditions and the pillars which
need to be developed.