Since the global financial crisis, the islamic finance institution has grown at double digit rates, outpacing growth of the conventional sector. Based on Islamic Financial Services Industry Stability Report 2016, the global Islamic financial services industry has reached an overall total value of USD1.88 trillion in 2015. 5.
The fear is that transfers are always made in the same direction and that the taxpayers of the countries offering support do not agree with this. However, a common budget may enable public goods, such as security and defence, to be financed more efficiently.