Saturday, January 05, 2008

Weekly Update, January 5th

A U.K. banking industry publication, Banking TImes, reports that the Islamic banking industry will grow by 20 percent in 2008, making it one of the fastest growing areas of finance. The growth estimate is from the Islamic Financial Standards Board (IFSB), the Kuala Lumpur-based standards-setting organization, which will hold its fifth annual summit in Amman, Jordan on May 13-14, 2008. The summit will focus on "Financial Globalisation and Islamic Financial Services".

Qatari-based Doha Bank is expanding into Yemen by acquiring a 'strategic' stake in Yemen's Credit Cooperative & Agricultural Bank.

Islamic investment and finance is developing in India, albeit slowly.

The International Bar Association (IBA) will hold a conference on "Islamic finance in the Middle East" on January 13, 2008 at the Dubai International Financial Centre (DIFC).

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