Four days after HSBC Holdings said it would shrink its global Islamic banking operations, National Bank of Abu Dhabi revealed very different plans: it aims to triple the contribution of its sharia-compliant operations over the next eight years.
The contrast suggests that rather than being a sign of weakness in the Islamic finance sector, HSBC's decision reflected its own business priorities - and to the extent that the British bank pulls back from the industry, local banks will gain an opportunity to expand...............................................Full Article: Source
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