By Imran Hussain Minhas
Abstract
Since the inception of Islamic finance, it is encountered with different challenges and criticism from advocates of conventional financial system but time has proved that Islamic finance is a reality having tremendous potential to grow. Islamic finance has now reached to around 100 countries of the world which includes the non-Muslim jurisdictions, as well. Islamic finance is getting its share in the financial system with a rapid double digit growth rate and worldwide assets of Islamic Finance have reached to US$ 1.8 trillion in 2013 from US$ 826 billion in 2010. For a strong Islamic capital and money market, an effective risk management structure is mandatory and the author discusses these in this article.
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