An increasing number
of governments are becoming global economic players - and this in the form of
state-controlled companies or gigantic sovereign wealth funds. The global
economy used to be dominated by the democratic West but the states that are now
gaining influence are primarily authoritarian nations. This shift towards a new
balance of power however does not necessarily indicate the
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Mainstream investment banks are pitching into the increasingly popular and profitable business of Sharia-compliant financial services, and the trend is moving to Europe. The industry has experienced annual growth of about 35 percent since the early 1990s. The consistent growth is due to the booming economy of oil-exporting states and increasing trust in structures that are both Sharia-compliant
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