GCC Islamic banks’ retail focus makes them more resilient to COVID

The sector’s nonperforming exposures have remained stable during the pandemic

Dubai: GCC Islamic banks’ focus on low-risk retail finance supports their asset quality and are far more resilient to the impact of pandemic on the banking sector, according to rating agency Moody’s.

Islamic banks in the GCC and in South and Southeast Asia are emerging from the coronavirus-induced economic shock, but remain exposed to an uneven recovery across these regions.

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