26.06.2012 - Islamic banks ready to move into fast lane
Islamic banks are set to have the same share of the Middle Eastís banking industry as their conventional rivals by the end of the decade, a major international lender has said. Leading executives at global institution Standard Chartered say Sharia-compliant banks are on track to boast around half of the regionís banking assets by 2020 - on the back of surging growth which has seen the industry expand by 30 per cent in the region in just two years. Standard Chartered say Islamic banking now accounts for 25 per cent of the UAE banking industry...............................................Full Article: Source
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