Abstract
Islamic finance is a fast growing segment of the global financial industry, with Islamic assets recently estimated to be about USD 1 trillion. This article reviews the asset management sector of the industry with a focus on Islamic mutual funds. Islamic investments are well positioned and have been steadily increasing their presence and gaining a larger market share globally. This is due mainly to surplus liquidity in some oil and gas-rich Muslim countries as well as rising religious awakening among Muslims worldwide, which has attracted the attention of many western financial institutions. At about USD 60 billion, the Islamic mutual fund industry represents 6 percent of total assets in the Islamic finance industry, with a potential growth to $500 billion. A review of the main types of Islamic investment funds is followed by a SWOT analysis and recommendations for future progress. <b>TOPICS:</b>ESG investing, mutual fund performance, global
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