26.02.2009 - Islamic banks face big hit from Gulf property -S&P

From Reuters: Islamic financial institutions (IFIs) face a significant hit on profits if real estate prices continue to fall in the Middle East, ratings agency S&P said on Wednesday. IFIs' direct exposure to real estate assets in 2008 reached 20 percent of total loans, making them vulnerable to an ongoing correction in the previously fast-growing sector, the agency said in a report..... Full Article: Source

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