An obsession with run-of-the-mill products and services has left Middle East Islamic banks closing 2011 in a comatose state with regards to innovation, according to Islamic finance gurus.
For some time observers have warned retail banks that their offering of mundane Islamic credit cards, home loans and Takaful products was unsustainable. These warnings have now reached fever pitch. As another year looms, it seems that without radical change, Islamic banks could sleepwalk towards a crisis of customer apathy as they fail to find a better way forward other than simply mimicking conventional products………………………………………..Full Article: Source