$11 Trillion Muslim Wealth Mountain Calls to Asian Fund Managers
- RHB, Bank Mandiri units plan new Shariah-compliant vehicles
- Asset managers have tapped a fraction of global islamic wealth
Middle East Strategy: What Investors Should Know
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The race to tap an $11.5 trillion pool of wealth held by Muslim individuals, institutions and governments is intensifying.
The asset management units of Malaysia’s RHB Bank Bhd. and Indonesia’s PT Bank Mandiri plan new Islamic funds, expanding an industry that’s lured global money managers from BNP Paribas SA to Schroder Investment Management Ltd. in the past year. While demand for investments that comply with the Koran’s tenets is rising, about $9.5 trillion of Islamic wealth still remains outside the Shariah finance industry, Malaysia International Islamic Financial Centre estimated in February.