Islamic financial institutions' assets top $822bn

Islamic financial institutions hold assets that exceed $822 billion (Dh3 trillion) and the value of Shariah-compliant bonds was $100bn in 2009, Saudi Arabia's central bank governor Muhammad Al Jasser said.

Islamic banks account for 15 per cent of the assets of the largest 30 banks in the Middle East, Jasser said.

The total assets of 478 global Islamic investment funds were about $27bn at the end of the third quarter of 2009, Jasser, according to the Damascus-based agency.

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