Islamic finance growing in Asia-Pacific, says Moody's

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The prospects for Islamic finance in Asia-Pacific are generally good, according to a Moody's Investors Service report released on February 28. The report also highlighted Malaysia's stature as a sukuk (Islamic bond) issuance hub.

Asian currency-denominated sukuk outstanding grew by around 50% to $65.3 billion in 2007 from $43.6 billion in 2006, says the report. Dominique Gribot-Carroz, a Moody's assistant vice-president in Hong Kong and co-author of the report, expects sukuk issuance to grow by 3

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