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Islamic banks ‘largely insulated’ from financial crisis

Posted on 12 December 2008

From Themalaysianinsider.com: Islamic banks have largely dodged the financial crisis, thanks to their low exposure to toxic assets like sub-prime loans, and may rebound faster than other sectors once the global outlook strengthens.

That is the view of two key players in the sector here, who both see strong growth ahead. Vince Cook, chief executive of The Islamic Bank of Asia (IB Asia), a Singapore-based unit of DBS Group Holdings, said: “While we’re not immune… we’re also not seeing any of the Islamic banks having the problems you’re seeing at some of the bigger investment or conventional banks….. Full Article: Source

 
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