Cases on Islamic Banks
According to the Global Finance Report 2013, sharia-compliant finance is the fastest-growing area of finance worldwide, with more than 500 financial institutions (FIs) providing Islamic financial products. According to Beirut-based Union of Arab banks, Saudi Arabia’s Al Rajhi Group was the world’s largest Islamic bank in 2011.1 According to the E&Y World Islamic Banking Competitiveness Report 2013, global Islamic banking assets with commercial banks will amount to $1.72 trillion in 2013 compared to $1.54 trillion in 2012. The report states that the six rapid growth markets of Qatar, Indonesia, Saudi Arabia, Malaysia, United Arab Emirates (UAE), and Turkey constitute approximately 78% of international Islamic banking assets. ...
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