* Islamic trade finance may grab 20 pct of OIC trade finance
* Islamic finance innovations aid growth in industry
* Asia-Middle East trade flows to lift Islamic trade finance
By Shaheen Pasha
DUBAI, June 9 (Reuters) – Islamic trade finance has benefitted from shifting preferences towards Sharia-compliant banking and could serve as one of the key growth drivers to help the nearly $1 trillion Islamic finance industry double in size.
The global Islamic finance industry, which has been growing between 15 to 20 percent a year, is widely expected to reach $2 trillion in the next three to five years.
While Islamic banking and Islamic bonds, or sukuk, are expected to lead growth, bankers say Islamic trade finance could serve as the dark horse emerging to propel the industry further. Continue reading