The Islamic banking remains one of the fastest growing sectors in the Middle East and has outperformed their conventional peers in most markets and this robust growth is expected to continue for the foreseeable future. Islamic finance through its equity-based nature has a lot to offer for the stability of the markets and the economies of the world.
“However, despite a sustained annual growth it should be acknowledged that the industry still remains a relatively niche area and has to break into the mainstream. Therefore, it is important that the industry continues to move forward and innovate in order to continue to achieve growth: development of the Sharia framework, the diversification of products, and how best to manage financial assets are just some potential areas for improvement,” sated Mohammad J. A. Zaqout, EVP - Personal Banking Gropu at Al Hilal Bank. (Press Release)