Financial Outlook of the OIC Member Countries 2016
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Total Assets of the Industry 4.1
The total value of the assets under management of banking and non-banking financial
institutions offering Islamic financial services reached 2.143 trillion USD in 2015 since the
potential size of the global Islamic financial services industry estimated as 7.096 trillion USD.
The sector is being dominated by banking (75 percent of the global Islamic finance assets) and
Sukuk (15 percent of the global Islamic finance assets). With an average growth rate between
2009-2015 as 15 percent, the industry growth rate, as it was last year, fell below 10 percent.
4. Products and Services:
 Increasing range of Islamic products and services to meet the needs and demands of the Islamic finance
 Encouraging standardization of products and services of IFIs
 Encouraging innovation and adoption of new technologies, and alternate delivery channels for enhancing
financial inclusion
5. Initiatives:
 Developing national and international campaigns to increase brand awareness of Islamic finance
 Creating a new campaign to focus on the positives of Islamic finance for investors
 Encouraging expansion of Islamic social finance in order to promote financial inclusion for the poor and
empowerment of woman.
 Promoting collaboration among various international institutions working on development of Islamic finance
 Bringing Islamic Finance to the agenda of multilateral economic and financial platforms/institutions
 Encouraging experience sharing in Islamic Finance among the member countries through bilateral
cooperation and technical assistance
6. Talent Development:
 Promoting academic researches on Islamic finance and social finance
 Promoting/Developing training and academic programs specific to Islamic finance
 Developing industry certifications for Islamic finance
 Developing certification requirements for Islamic finance Industry professionals
 Creating scholarship and grant programs that sponsor individuals who are interested in working in the
Islamic finance industry
 Creating Islamic finance industry trade associations and encouraging their collaboration at international level
 Developing and hosting conferences for Islamic finance industry members, researchers, and regulators to
share ideas and collaborate on ways of growing and improving the industry
 Promoting regular tour of duty/rotation for the members of sharia advisory boards in Islamic financial
institutions
 Encouraging internship programs on Islamic Finance