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Islamic banks are reaping the benefits of a baby boom among Muslim families, encouraging global finance hubs including Hong Kong and the U.K. to focus on serving the Shariah-compliant industry.Lenders that comply with the religion's ban on interest will have more than 70 million customers by 2018, from 38 million last year, helping to double Islamic banking assets to $3.4 trillion over the period, Ernst & Young LLP estimates. Islamic banking assets have grown by 18 percent annually to $1.7 trillion over the last four years, according to E&Y.There has been $16.7 billion of issuance so far in 2014, 12 percent more than the year-earlier period.Gross domestic product in Indonesia, Malaysia and Saudi Arabia will increase this year by 5.4 percent, 5.05 percent and 4.2 percent, respectively, according to Bloomberg surveys.There are at least 400 Islamic financial institutions in 58 countries, according to World Bank figures.
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