Islamic Fund Management
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Chart 2.3: Growth of Global Islamic Funds
Source: IFSB (2018)
The following summarises the key points on the Islamic fund management industry:
 Total number of jurisdictions where Islamic funds are domiciled is 34 in 2017,
compared to 37 in 2016. Overall AuM has however increased from USD56.1 billion in
2016 to USD66.7 billion in 2017, as depicted i
 The USD66.7 billion of AuM in 2017 is held by a total of 1,161 Islamic funds. Out of this
total, 821 funds are classified as active, holding about USD 61.6 billion AuM. This
compares to 826 active funds in 2016, representing USD 51.2 billion AuM. Although the
number of active funds has declined, according to IFSB (2018), there has been an
increase in the average size of Islamic funds in 2017, showing a positive development of
Islamic funds building up mass and economies of scale.
 Of the 34 jurisdictions that were domiciles for Islamic funds as at end-2017, 20
comprised non-OIC members, with the largest domiciles in this category being Ireland,
the US and Luxemburg. Meanwhile, 14 OIC-member countries have initiated Islamic
funds with Saudi Arabia and Malaysia representing the top domiciles holding the largest
market share across the global Islamic fund management industry.
 The background of OIC-member countries that have established Islamic funds differs
from one to another, with varying degree of legal, institutional and technical
infrastructure development for the Islamic fund management industry. Leading
countries in Islamic fund management such as Saudi Arabia and Malaysia remain the key
domiciles for Islamic funds. These countries, according to IFSB (2018), also feature
among the top categories for the geographical focus of investments of Islamic funds.