JEDDAH: The global financial crisis is an opportunity for Sharia-compliant Islamic banking to further its position internationally, bankers said at a forum in Saudi Arabia yesterday.
Islamic banks have been barely bruised by the global credit crisis so far, although falling property and commodity prices and slowing economies are starting to affect the sector.
But bankers at the forum, on how the world finance crisis could affect Islamic banking, saw the sector strengthening.
“It is a must for Islamic finance to seize the opportunity that came with this global financial crisis,” Jeddah-based Islamic Development Bank’s (IDB) president Ahmad Ali said at the discussion organised by IDB.
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