KUALA LUMPUR, Dec 1 (Reuters) – Islamic banking is gaining ground with non-Muslims worldwide due to its strict lending principles, Singapore’s third-largest lender OCBC said on Monday, reflecting industry efforts to transcend religious beliefs to gain market share.

 

Sharia finance is a blend of Islamic economics and modern lending principles and its products can be sold to Muslims and non-Muslims.

 

While it was previously a small market catering to Muslims who wanted to avoid interest-based conventional banking, Islamic finance has become popular in recent years due to cash-rich Gulf Muslim investors and rising demand for ethical investing.

 

Non Muslim investors have also been looking for less risky alternatives since the onset of the global credit crisis over a year ago cast doubt on many Western risk management practices.

 

But the Islamic finance sector is still relatively small and the industry wants to grow its market share to become a global alternative to conventional banking.

continue reading at………….

http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSKLR28619820081201

 

Leave a Reply

Looking for something?

Use the form below to search the site:


Still not finding what you're looking for? Drop a comment on a post or contact us so we can take care of it!