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Booming Islamic finance industry suffers with setbacks in Dubai

Posted on 05 March 2012

 Ashar M. NazimBanking in line with Islamic law or Shari’ah still achieves growth rates above 15 percent per year, but in Dubai, the Islamic banking Mecca, times are over when all market participants could enjoy “free lunch” simply launching a product or service being labeled “Islamic.”
According to global consultancy Ernst and Young, the global Islamic Finance will hit the mark of 1.1 trillion U.S. dollars in 2012, up from 826 billion dollars in 2011. However, a closer look at recent developments reveals a mixed picture………………………………………..Full Article: Source

 
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