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Egypt Islamic finance sector struggles

Posted on 02 July 2010

From Saudigazette.com.sa: Egypt is likely to remain an Islamic finance laggard. The birthplace of Islamic finance, Egypt is the sixth-biggest Muslim nation with 80 million people, but only 3 to 4 percent of its $193 billion banking industry is Islamic, said a 2009 report by consulting firm McKinsey.
UAE Islamic assets, by comparison, account for 46 percent of the market, while even in Turkey, with its highly secular political and social structure, Islamic assets account for 42 percent of total banking assets……………………………………….Full Article: Source

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