Tuesday, September 26, 2006

Islamic Banking discussed in a Banking & Finance Supplement - Gulf News

"Islamic banking comes of age", Banking & Finance Supplement - Gulf News, September 27, 2006

The entire supplement touches upon the relationship between Islamic banks, which have 15 percent of the market in UAE, and conventional banks, which have the rest. The supplement also has an article devoted to Islamic banking, which summarizes the developments of the past 30 years. The main conclusion of the article, written by the Associate Director of Standard & Poors is that Islamic banks need to merge in order to become competitive on a global scale and also the two largest regional sources of Islamic banking, the Middle East and East Asia, need to harmonize their Shari'ah standards.

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