| Islamic banking assets with commercial banks in the GCC reached $ 445 billion at the end of 2012, up from $ 390 billion in 2011, with the outlook for the industry remaining relatively positive in 2013. This represents a 14 percent year-on-year growth, which is considerably lower than the five-year average of 19 percent.
According to estimates by Ernst & Young’s Global Islamic Banking Center, Qatar was the fastest growing market where Islamic banking assets are expected to have grown by more than 23 percent during 2012. While Islamic banking assets with commercial banks in the GCC grew by 14 percent in 2012, conventional banking assets grew by only 8.1 percent — indicating the relative resilience and potential of the industry...............................................Full Article: Source
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