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Growth rate of Islamic finance industry

Posted on 18 October 2012

With the gap between Islamic and conventional banking solutions narrowing substantially, and due to the fast development of the Islamic banking industry, Muslim high net worth individuals are increasingly expecting Shariah compliance in managing their wealth, making Islamic wealth management solutions a key market need, Standard Chartered Private Bank has observed.
In the UAE, Islamic banking assets would grow to 20 per cent of the total banking sector in 2012 from an estimated 18 per cent in 2011, a banking expert has mentioned. According to recent data of Bloomberg, Global sales of Shariah-compliant bonds jumped to US$36 billion this year, just shy of 2011’s full-year record of US$36.7 billion………………………………………..Full Article: Source

 
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