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Islamic Finance Briefing - Categorized | Banking, People, Performance more

Sharia-compliant banking to witness 15pct growth

Posted on 09 July 2012

Dr Rajesh NayakSharia-compliant banking is expected to witness a global growth of 15-20 per cent, according to a banker. Dr Rajesh Nayak, Director (Training), Central Bank of Oman’s College of Banking and Financial Studies, Oman, said that sharia concept of banking is attracting bankers in some western countries. At present, around $1 trillion of banking assets are under this concept of banking, he said.
Sharia-compliant banking emphasises on sharing risks than shifting risks. It is based on the principles of prohibition of interest and prohibition of uncertainty……………………………………….Full Article: Source

 
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