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Islamic finance has great potential by 15 to 20 pct for 2011

Posted on 18 July 2011

Dr. Farooq Khan Professor of Management Al Ghurair University praised the role of Islamic finance and it growth in the GCC countries. The Islamic banking industry in the GCC is expected to grow by 15 to 20 per cent in the year 2011 and beyond.

Dr. Farooq Khan said:” The potential for Islamic finance in the GCC countries is enormous and there are vast opportunities to grow further in the context of growing demand for Shariah-compliant products and services. The region has high GDP. Also Consumer spending and investment increases the demand for Islamic financial products and services which provides a big boost in moving forward”. (Press Release)

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