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U.K. Shariah asset growth curbed by recession

Posted on 22 July 2010

From Bloomberg: Growth in Islamic financing in the U.K. has been hampered by an economic slump and what Moody’s Investors Service describes as a lack of government support.
HSBC Amanah, a unit of Europe’s biggest bank, says Malaysia and the Middle East have better growth prospects. Lloyds Banking Group Plc, the U.K.’s largest mortgage lender, stopped offering home financing that complies with Shariah law because the overseas underwriter withdrew, Emile Abu-Shakra, a spokesman at the bank in London, said……………………………………….Full Article: Source

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