Press Esc to close
Friday 25 July 2014
News updated at 11:07 PM IST
Weather
Max: 28.5°C
Min : 19.8°C
In Bangalore
Sunny day

Islamic banking to cross $1 trillion

Bangalore, Dec 16, 2012, DHNS:

A report prepared by global consultancy firm Ernst & Young has said that Islamic banking is all set to cross the $1trillion mark this year, up from $826 billion in 2010, adding that the time is just right to establish Islamic sovereign wealth funds to “champion the growing internalisation” of the industry.

The “World Islamic Banking Competitive Report 2011-12” was prepared by Ashar M Nazim, Islamic Financial Services Leader and Imtiaz Ibrahim, Senior Director, Islamic Financial Services at Ernst &Young and released at the World Islamic Banking Conference held in Bahrain from December 9 to 11, 2012.

The report said that growth within the Muslim population of Middle East and North African countries and Asia are key drivers behind increasing demand for Islamic financial services.


Go to Top

Photo Gallery
Actor Akshay Kumar at an event in Gurgaon...

Actor Akshay Kumar at an event in Gurgaon...

Owner of Jaipur Pink Panther Kabaddi Team Abhishek Bachchan during a promotional event...

Owner of Jaipur Pink Panther Kabaddi Team Abhishek Bachchan during a promotional event...

Sand sculpture with a message “Stop War” at Puri beach of Odisha...

Sand sculpture with a message “Stop War” at Puri beach of Odisha...

A villager on his way to collect drinking water wades through flood waters carrying a vessel...

A villager on his way to collect drinking water wades through flood waters carrying a vessel...

Muslims burn a flag of Israel as they protest against Israel's attack on Gaza, after friday...

Muslims burn a flag of Israel as they protest against Israel's attack on Gaza, after friday...

Army jawans lighting lamps at 'Kargil war Wall Memorial' to pay tribute during the celebrations...

Army jawans lighting lamps at 'Kargil war Wall Memorial' to pay tribute during the celebrations...

Ancient passage stairs found during the underground Jaipur Metro train work at Choti Chopad...

Ancient passage stairs found during the underground Jaipur Metro train work at Choti Chopad...

Gold Medalist India's Abhinav Bindra, Silver Medalist Abdullah Baki of Bangladesh...

Gold Medalist India's Abhinav Bindra, Silver Medalist Abdullah Baki of Bangladesh...

A Malaysia Airlines crew member places a flower next to candles forming the letters MH17...

A Malaysia Airlines crew member places a flower next to candles forming the letters MH17...

Boats head out to the mouth of St. Johns River at dawn during the start of the Greater...

Boats head out to the mouth of St. Johns River at dawn during the start of the Greater...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523