Islamic Finance Moving into the mainstream

Regional focus: Middle East/Africa


Ramadan, the month of fasting, may have slowed down Islamic banking activity during October, but it is hard to ignore the giant strides Islamic finance has taken in 2005 to become one of the fastest growing segments in global banking.

Although still considered a niche market, Islamic financing is booming. There are roughly 270 Islamic banks and financial institutions in over 25 countries with a total capitalisation of $13 billion, assets of $250 billion and customer deposits of $200 billion

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