With $70 billion of sukuk currently issued globally, the Standard & Poor's Rating Service expects this number to exceed $100 billion by 2010. Sukuk issuance in 2006 of $16.8 billion was more than double the $7.6 billion issued in 2005.
A Standard & Poor's managing director, Torstens Hinrichs, believes demand for Islamic finance, currently around $400 billion, will increase to $4 trillion within the next 3 to 5 years.
Global Risk regulator has an article on how to regulate the growing Islamic finance industry.
New Shari'ah-compliant index
Standard & Poor's announced the launch of the GCC Shari'ah Indexes. The new indexes are:
• S&P Saudi Shari'ah
• S&P Bahrain Shari'ah
• S&P Kuwait Shari'ah
• S&P Oman Shari'ah
• S&P Qatar Shari'ah
• S&P United Arab Emirates Shari'ah
• S&P GCC Investable Shari'ah
• S&P GCC Composite Shari'ah Index