Wealth in the Islamic world is accumulating, and
investors are seeking competitive offshore locations in which to
park their wealth and structure their vehicles. SEAN SCOTT and
JOANNA HOSSACK explain the specific advantages of the Cayman
Islands for Shariah compliant funds.
Wealth is accumulating in the Islamic world. The UAE,
Saudi Arabia, Kuwait and Qatar are mainstays among the top 10
richest sovereign wealth funds in the world. Malaysia and Brunei
appear in the top 20. Growth in these countries is not purely as a
result of oil revenues; infrastructure development and
entrepreneurship have also played their part. As the Islamic
finance industry continues to grow and thrive, prosperity is
trickling down to individuals and private business owners, when
once it was the preserve of ruling families and high net worth
individuals. This newly-affluent populace is looking at ways to
make its money work whilst still complying with the principles of
Shariah, and this
