| Islamic banking assets in the UAE are predicted to grow to 20 per cent of the total banking sector in 2012 from an estimated 18 per cent this year, Standard Chartered Saadiq, the Islamic arm of the bank, said on Sunday.
The bank said it expects Islamic assets to constitute 38 per cent of total consumer banking assets in the UAE in 2012, compared to about 35 per cent in 2010. It didn’t provide a 2011 estimate. According to the Dubai Chamber of Commerce and Industry, the collective assets of the eight Islamic banks in the UAE were Dh269 billion at the end of 2010, accounting for around 16.2 per cent of the overall banking assets of Dh1.66 trillion...............................................Full Article: Source
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