Islamic banking assets to top $1.8 trillion

By CCTV correspondent Sumitra Nydoo

Islamic banking has gained some serious traction in the global banking sector in recent years. With the 2008 credit crunch that saw the demise of some of the world’s oldest financial institutions, Islamic Banking organizations have been lauded internationally for weathering the storm. This is mainly because they are not exposed to volatile markets as other conventional banks.

According to Ernst & Young’s World Islamic Banking Competitiveness Report 2013, Islamic banking assets held by commercial banks worldwide are expected to exceed $1.8-trillion this year, a 38% increase compared with $1.3-trillion in 2011. But how is Islamic banking different from conventional banking?

see more at : http://english.cntv.cn/program/newsupdate/20130504/103509.shtml

2 thoughts on “Islamic banking assets to top $1.8 trillion

  1. very interesting to read all this!
    The biggest drawback for Islamic Banking is that Moslem nations ( barring a few such as Malaysia or Iran) remain on the back foot as far as its actual implementation goes. I think that sends a very tragic and negative signal to the Non Moslem nations.

    Like

  2. It is a great and wonderful archivement in the sctor. How i wish my country nigeria will also impliment fully the practice of Islamic banking.

    Like

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