Monday, September 25, 2006

Islamic finance expanding among Muslims and non-Muslims

"Islamic finance prospers, backed by non-Muslims", Middle East Times, September 25, 2006

The growth in Islamic finance has been rapid, particularly in the past five years and non-Muslims are taking advantage of Islamic finance as well. Japan will be the first non-Muslim country to issue Islamic bonds to attract investors from the Muslim world if it goes ahead with its current plans. The article says that the following Western banks offer Shari-ah-compliant products: Citigroup, Deutsche Bank, HSBC, Lloyds TSB and UBS, although many of these banks only offer Shari'ah-compliant products outside of the United States.

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