Between 100 and 150 new financial institutions could be launched in the next five to seven years to serve the Muslim countries including Bangladesh that are new in Islamic banking or have low rates of penetration, according to a report by consultancy firm, Ernst & Young.
“Ten of the 25 fastest growing emerging countries like Bangladesh have large Muslim populations. Islamic banks are set to expand to compete with conventional lenders in attracting mainstream customers,” the report noted. However, the local experts have agreed with the Ernst & Young study as there are ample opportunities to promote Islamic banking services in the country………………………………………..Full Article: Source