06.11.2012 - Islamic banking assets to reach $ 1.5 bln
Sri Lankan Islamic banking assets would reach $ 1.5 billion from the present $ 250 million in coming years, says Amana Bank Chief Executive officer Faizal Salieh. Of the country’s 21.5 million people, about 8 % are Muslim and there is a strong demand for Islamic financial products from the Muslim population as well as from non-Muslims. Though the local Islamic finance is still at a preliminary stage, it is developing. Local Islamic Finance industry would grow at a double digit rate over medium to long term and the growth is attributed to the increased awareness of faith based concepts and the internalization of the financial markets...............................................Full Article: Source
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