In some countries, Islamic finance is at an advanced stage of development, while in others, more meaningful progress is yet to be made. As of now, Islamic finance is largely concentrated in a few regions, namely Southeast Asia and the Middle East, with a few Western countries taking an active role in promoting Islamic finance. Hence, the penetration of Islamic finance into other regions and countries is both a challenge and opportunity for Islamic finance. In order to do this, a robust Islamic financial system consisting of the banking and the non-banking Islamic financial intermediaries, the Islamic financial markets, a wide range of Islamic financial products, and a developed Islamic financial infrastructure is needed. For further details see: ISRA, Islamic Financial System; Principles and Operations.