Islamic Fund Management
8
4. Country Groupings/Categories: To facilitate analysis and recommendations, the study
has organised the country-specific case studies into country groupings/categories by
focusing on the geographical groups of the OIC (Arabian, Asian and African) and the
development level of their respective conventional and Islamic fund management
industry.
The study showcases four countries, i.e. Malaysia, Pakistan, Morocco (representing OIC
member countries) and South Africa (representing non-OIC member). The countries have been
selected based on their regional location, as reflected i
Table 1.1: Case-Study Countries by Regional Location
Arab Asia Africa
OIC Member
Morocco
Malaysia
Pakistan
Non-OIC Member South Africa
The development levels of the Islamic fund management industry in the respective countries
are categorised based on the analysis i
Table 1.2: Case-Study Countries by Growth and Competitiveness Level
Slow market growth Rapid market growth
Strong competitive
position
Category B Category A
Weak competitive
position
Category D Category C
Countries in Category A – Rapid market growth and strong competitive position of
Islamic fund management industry. They face challenges in their efforts to continue building
on their success while ensuring Islamic finance remains central to the development of their
capital markets as they evolve (e.g. Malaysia).
Countries in Category B – Slow market growth and strong competitive position of Islamic
fund management industry. They face challenges in trying to bring their Islamic fund
management industry on to a level playing field vis-à-vis the conventional segment. The
existing infrastructure may, however, be helpful in making the industry competitive relative to
its conventional counterpart. The improvement of macroeconomic conditions is crucial
towards driving the growth (e.g. Pakistan).
Countries in Category C – Rapid market growth and weak competitive position of Islamic
fund management industry . This is applicable to countries with an expanding Islamic fund
management industry, but which is still relatively small compared to the overall industry.
Countries in Category D – Slow market growth and weak competitive position of Islamic
fund management industry. This requires the fundamental enhancement of the
infrastructure of the Islamic fund management industry infrastructure (e.g. Morocco).