The Islamic assets in Qatar’s commercial banking industry rose 23% year-on-year in 2012, outgrowing the Gulf banking industry’s growth of 14%, according to Ernst and Young (E&Y). “Qatar was the fastest growing market where Islamic banking assets are expected to have grown by more than 23% during 2012,” E&Y said in a latest report.
Islamic banking assets with commercial banks in the Gulf region grew only 14% year-on-year to $445bn in 2012, but the growth was considerably lower than the five-year average of 19%, it said, adding those in the conventional banking grew only 8.1%, indicating the relative resilience and potential of the industry………………………………………..Full Article: Source