However, there are varying motivation and driving factors for the development of this industry ranging from religious fervor to the opportunities that exist in Islamic finance for broadening and deepening the process of financial intermediation which augurs well for financial innovation and engineering, enhancing the financial services penetration in national jurisdictions and for cross border capital flows.
By way of example: •  CLICO, with assets in excess of over $ billion, only requires capital of $ million. This compares for example with banks which must have capital equivalent to a minimum of 8 per cent of its assets.