| Islamic banks could be boosted by a nearly doubling of assets within five years, as borrowers seek alternative methods of financing due to a cutback in lending at European and US banks. Analysts at Deutsche Bank, led by Ryan Ayache, have predicted in a report that global Islamic banking assets could reach $1.8 trillion by the end of 2016 – up 90% on the $939bn of assets in 2010.
The analysts argued that Islamic banks would benefit from the regulatory burden on banks in developed markets, such as Europe and the US, which will curtail bank lending. They also argued that there is growing awareness and acceptance of Islamic finance and sharia-compliant products.............................................Full Article: Source
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