‘Islamic banking should be on national agenda’

KARACHI: Islamic banking should be part of the national agenda in order to promote a Shariah-based financial system, according to State Bank of Pakistan (SBP) Head of Islamic Banking Salimullah.

He was addressing the participants here at the Islamic Finance Conference and Exhibition on Friday.

Salimullah said that Islamic banking has been on an expansion path throughout the country, providing a viable alternative model of the economy to the world.

The SBP has planned to intensify its efforts towards creating awareness and promoting Islamic banking across the country in collaboration with all Islamic banks, he informed the participants.

Read more : http://tribune.com.pk/story/566510/islamic-banking-should-be-on-national-agenda/

source : tribune.com.pk

Islamic finance sector seen to reach $2 trillion by 2015

Source : Khaleej Times

The $1 trillion global Islamic finance industry is set to double in size between 2011 and 2015, recording an annual 20 per cent growth driven by increasing demand for this “credible alternative” to conventional banking in the GCC and Asia.

“The global crisis faced by conventional finance has led to Islamic finance increasingly being viewed as a credible alternative. Issuers and investors have realised that the risk-reward balance in both conventional and Islamic finance are not fundamentally different,” said Stuart Anderson, managing director and regional head for the Middle East at Standard & Poor’s, or S&P.S&P expects the $1 trillion global Islamic finance industry to grow 20 per cent over 2011-15 doubling in size over the period.

Read more at : http://www.khaleejtimes.com/kt-article-display-1.asp?xfile=data/uaebusiness/2012/September/uaebusiness_September222.xml&section=uaebusiness/