This short article is very revealing–the
growth of Islamic banking is dependent on pushing it on non-Muslim
investors…
Islamic banking to be 12% of financial sector
Middle East: Saturday, January 12 – 2008 at 11:33
It’s predicted that in three to five years’ time, Islamic banking sub
sector will be 12 per cent of the total value of the financial sector
in Pakistan which will help the global Islamic sector to exceed $1
trillion mark, reported Daily Times. This was revealed in the
research studies presented by Mckinsey and MTI Consulting, two
consulting companies at the World Islamic Banking Conference held in
Bahrain recently. High growth will be fueled by adoption of Sharia-
compliant banking products by the wider population than being
restricted to a niche core group such as Muslims strata, as has been
the case in Malaysia where Chinese are among the major consumers,
they said.
