Wealth management will be the next area of development for Islamic finance. The availability of products and services for Muslim high net worth individuals is still limited. “There is a lot of wealth parked in the conventional space, especially in the GCC,” Standard Chartered Saadiq consumer banking global head Wasim Saifi said.
“This wealth could easily move into the Islamic space if customers can find a Sharia-compliant option that can provide them with a diversity of risk and manage it properly.” Banks would need to innovate to wean customers away from conventional banking towards Islamic finance………………………………………..Full Article: Source