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Islamic banking is one of the fastest growing segments in the financial industry, tracking a 10-15% growth over the past decade. Globally, Islamic banking assets are estimated to grow around 15% a year to $1 trillion by 2016, according to the IMF. The high growth rate seen in Islamic banking is attributable to increasing demand from Muslims, growing oil revenues in the Middle East countries, and the attractiveness of Shariah-compliant financial services to non-Muslim investors seeking "ethical" banking practices.
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