With credit rating downgrades raising the interest rates that have to be paid on bonds, banks should look at Islamic financing to meet the added capital requirements of new regulations, professional services company Ernst & Young recommended in a report released last week.
According to Ernst & Young’s World Islamic Banking Competitiveness Report 2013, Islamic banking assets held by commercial banks worldwide are expected to exceed $1.8-trillion this year, a 38% increase compared with $1.3-trillion in 2011………………………………………..Full Article: Source