Abroad overview of the Islamic financial world shows that the phenomenon truly is global. From its humble beginnings in the Middle East of the 1950s, the sector has grown into a $500 billion industry, with $350 billion invested in the region itself. Furthermore, the Islamic finance sector in South Asia has broken the $100 billion mark and the infant Western markets are already worth a combined $30 billion. Around the world, there are over 300 Islamic financial institutions in more than 50 countries. Industry overview A breakdown of Islamic financial assets at the end of 2006 shows exactly how that capital is distributed. Roughly half of all capital managed under sharia rules resides on the balance sheets of Islamic financial institutions. The next largest segment, at 40%, is placed at the Islamic windows of conventional banks, like Citi Islamic, HSBC Amanah and others. Sukuk not managed by banks check in
