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Islamic Finance Briefing - Categorized | Finance, Market Moves more

Islamic finance shrugs off global banking worries

Posted on 27 August 2012

Despite negative spillover effects from the Euro zone debt crises and various scandals at Western banks, the Islamic finance industry celebrates a comeback. According to Kuwait Finance House, the Gulf region’s second largest Islamic bank by assets, the global volume of issued Islamic bonds reached 66.4 billion US dollars in the first half- year of 2012, representing a year-on-year growth of 40 percent.
“This is the biggest year for sukuk simply because supply is finally catching up to demand,” John Sandwick, wealth manager at Islamic asset management firm Safa Investment Services in Geneva, said in an e-mailed interview with Xinhua………………………………………..Full Article: Source

 
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