The Islamic finance industry has expanded rapidly over the past decade, growing at 10–12% annually. Today, Sharia-compliant financial assets are estimated at roughly US$2 trillion, covering bank and non-bank financial institutions, capital markets, money markets and insurance. There has also been a surge of interest in Islamic finance from non-Muslim countries such as the UK, Luxembourg, South Africa, and Hong Kong. (World Bank, 2015)
The growth and evolution of Islamic business and finance has continued to be very much part of the changing configuration of the global economy. Against this backdrop, Islamic finance education for professionals is a growth market as well: Banks and financial institutions in Malaysia, UA, Bahrain, and Saudi Arabia are increasingly spending money on professional Islamic finance education each year. As the industry is expanding internationally, this is also to be expected for further markets as well as markets from non-Muslim countries.
Given the huge potential in both Islamic business and the Islamic economy, there is also a wide array of research opportunities to cater to the growing need of products and solutions for the Islamic business domain; therefore, Islamic business and finance as a scientific academic discipline is becoming increasingly widespread.