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Islamic finance well positioned for GCC recovery

Posted on 18 December 2009

From Albawaba.com: NCB Capital, the investment banking arm of National Commercial Bank, Saudi Arabia’s largest bank, believes that Islamic finance, an increasingly important element of the GCC financial sector, is well positioned to lead the way in the region’s pending economic recovery.

Speaking at the World Islamic Banking Conference in Bahrain today, Dr Jarmo Kotilaine, Chief Economist of NCB Capital, said, “Islamic capital markets seem to have performed well in terms of returns compared to conventional markets and they have weathered the current financial crisis well. This is attributed to their inherent ethical and non-speculative nature.”……………………………….Full Article: Source

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