The aim of this paper is to review the available research studies on the subject of Islamic finance and banking. Islamic finance has been witnessing a spectacular growth across the world over the past decades. For this paper, specific search terms were used in the Google Scholar search engine and the results were shortlisted according to the year of publication. From the review of the available studies on the subject, it was highlighted that Islamic finance had witnessed tremendous growth over the last few years across geographies. Islamic finance has also been growing across the products of Islamic finance. There has also been a trend of demand for Islamic finance growing in non-Muslim countries. Studies have also claimed that the financial crisis of 2008 did not impact Islamic finance and banking.

Keywords: Islamic Finances, Islamic Banking, Trend, Review