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MAS chairman says Islamic finance can exploit post-crisis landscape

Posted on 05 December 2012

Tharman Shanmugaratnam suggests weakness and deleveraging in conventional banking systems gives Islamic finance an opportunity to expand. Islamic finance is well-placed to grow and diversify, Tharman Shanmugaratnam, the chairman of the Monetary Authority of Singapore, said.
Despite estimated annual growth of 19% a year since 2006 there was still “considerable scope” for the industry to grow, Shanmugaratnam said, as conventional banks deleverage, trade rebalances towards Asia, and consumers look for “back-to-basics” finance………………………………………..Full Article: Source

 
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