Certification
No study on investor behaviour in the region, or on any financial consumer sample, can be complete without some reflection on the continuing phenomenon of what is called Islamic banking. Only on Sunday, The National reported that the Sharia-compliant market is undergoing a boom in the London financial centre and is predicted to double within five years.
The Perbadanan Insurans Deposit Malaysia (PIDM) expects Islamic deposits to increase slightly to 10 percent this year from 8.0 percent in 2007.This follows the establishment of more full-fledged Islamic banks in the country.
The banking sector in the UAE is growing at a phenomenal pace and multinational and regional banks are fighting for a share of the Middle East and North Africa (Mena) market.
The global credit crisis presents the $1 trillion Islamic finance industry with an opportunity to expand its appeal beyond devout Muslim investors as a haven from speculative excess.
Standard Chartered Bank and Royal Bank of Scotland (RBS) plan to set up Islamic banking subsidiaries in Malaysia, local media reported on Monday.
Delegates from Qatar will be among the 1,000 leaders and experts representing 45 countries from the banking industry who will be attending the 15th Annual World Islamic Banking Conference (WIBC) to be held in Bahrain from November 23 to 25.
The number of Sharia-compliant investment banks in the UK is expected to more than double to 10 within five years, Islamic lender Gatehouse said on Tuesday.
Despite its relatively recent entry into the Middle East market, Lovells is taking a large chunk of the Sukuk (Islamic bonds) deals in the Dubai market, having just scored another US$300m Sukuk issue for Tamweel PJSC, UAE’s largest real estate finance provider.
MNRB Retakaful Bhd expects international business to contribute 20% to its total revenue by financial year ending March 31, 2009 from the current 10%.
Agrobank is the bank for agriculture but like any other bank, it strives to provide the best for its customers and retail banking customers are no exception.
