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Islamic banks need ’shake up’

Posted on 20 October 2011

Islamic banks must do more than merely rely on the Muslim faith of potential customers if they are to secure their business, industry experts have warned. A panel discussion at the World Islamic Retail Banking Conference in Dubai saw several heavyweights from the industry call on banks to improve everything from services to branding if they want to compete with household names of conventional finance.
Wasim Saifi, global head of Islamic banking at Standard Chartered, said that research showed the majority of Muslims still bank with conventional institutions. And, he added, just advertising services as ‘Sharia-compliant’ is not going to be enough to make them move to an Islamic bank……………………………………….Full Article: Source

 
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