HSBC’s decision this year to stop offering Islamic products in many of its markets has sent shock waves through the Gulf region, one of the global hubs for Islamic finance. The move underscored the difficulties facing even the largest conventional lenders that have tried to lure new customers to bank in compliance with Muslim sharia law.
While the Islamic finance industry is forecast to expand at a tremendous pace, a broader question is emerging as to how to make Islamic banking profitable………………………………………..Full Article: Source