| Islamic banking assets with commercial banks in the GCC reached $445 billion at the end of last year, up from $390bn in 2011, according to recent estimates by Ernst & Young's Global Islamic Banking Centre. Reports indicate that in 2012, the Islamic banking industry in the GCC registered a 14 per cent year-on-year growth, which represents a slight deceleration in the average growth rate over the past five years of 19pc.
Reports also indicate that profitability now looks to be stabilising in major Islamic banking markets though Islamic banks have experienced a mixed recovery across markets...............................................Full Article: Source
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