Sharia-based institutions on strong footing
Published: 4th February 2008
MANAMA: Sharia-compliant financial institutions have been able to compete effectively with conventional world-wide institutions, says Al Salam Bank Bahrain chief executive officer Yousif Taqi.

Islamic institutions will have a pioneering role in the next few years in revitalising world Islamic finance due to their effective methods in attracting investments and will outmatch their conventional peers.

He said the innovative tools which the Islamic financial sector was able to introduce to the market and have proved their great potentials in matching all conventional financial transactions.

“Islamic finance has become a preferred option to Muslim and no-Muslim clients,” Taqi said.

Marking the bank’s golden sponsorship of Euromoney’s Seventh Annual Islamic Finance Summit and Islamic Finance Awards to be held in London on February 5 and 6.

He said that Islamic dealings, which are distinct by their transparency boost the investor’s trust in the capabilities of the Islamic financial institutions and their abilities in creating innovative solutions that cope with today’s financing needs.

© Gulf Daily News 

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