17.10.2011 - Regional banks push for share of Islamic product marketplace
Foreign and local banks are intensifying their struggle for the for the region's high net worth clients by expanding their Islamic Wealth Management services. In wealth management there is no such thing as an "invisible hand", which economist Adam Smith described as the growth-driving result of a free market economy in his "Inquiry into the Nature and Causes of the Wealth of Nations", published in 1776. In fact, private bankers must work hard to lure High net worth individuals (HNWI) and Ultra-HNWI (clients with over $1m and over $30m at their disposal)..............................................Full Article: Source
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