23.11.2012 - Islamic banking: Rising over cynicism
Thriving with a staggering pace of over 20 percent year on year, the global Islamic finance industry now touts a vibrant size of 1.35 trillion dollars. Islamic banking industry (IBI), having a network of 430 banks and financial institutions and around 191 conventional banks conducting Islamic banking window operations, records its footprints in more than 75 countries across the globe. With its concentration in GCC countries, followed by non-GCC, MENA, Asia and Sub-Saharan Africa, S&P anticipates global IBI to grow by 20 percent YoY between CY13-CY15, consequently surpassing of two trillion dollars by CY15...............................................Full Article: Source
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