21.03.2013 - Turkey urged to seize Islamic banking chance
Islamic banking will triple itself in ten years and it holds further substantial opportunities for Turkey, but there are still margins for growth, a report says. The Turkish Islamic banking sector will triple in 10 years reaching $100 billion by 2023, while the country would have even more potential if it would meet the foreign demand by offering more of a variety of Islamic financial instrument, an Ernst & Young report has said. Islamic banking, which follows the requirements of Shaira and does not charge interest, has emerged as a prominent system at a time when European banks that have been the backbone of global sector are only slightly recovering from the aftermath of the financial crisis...............................................Full Article: Source
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