The Sharia Unit of Sun Life and the Sharia Unit of Manulife Compared

Since the establishment of Indonesia’s sharia financial industry in 1999, there are now 98 registered sharia non-bank financial institutions. According to the 2014 Financial Service Authority (OJK) evaluation, the share of sharia non-bank financial industry reached 3.93 percent by 2014. Within the sharia financial service ecosystem, the non-bank sharia financial services reached 8.8 percent. The sharia service is worth of 22.36 trillion rupiah, the sharia finance business is worth of 23.29 trillion rupiah, and the sharia financial institutions combined reached 12.86 trillion rupiah in value. Toronto based financial institution Sun Life Financial Inc (TSX: SLF) and Manulife Financial Corporation (TSX: MFC) are party to this small-but-growing sharia enterprise.To subscribe please click here