May 22, 2008
Islamic finance has always gathered attention within and outside of its own fraternity. Now, Dubai Holding is all set to consolidate two units, Dubai Bank and Dubai Islamic Investment Group to create a sharia compliant investment firm. This stems from the fact that the middle east has had a surge of cash after oil prices shot up in the beginning of this century, and Muslims, increasingly, want to align investments with their faith. So much so, that even banks like HSBC have an Islamic Financial Solutions wing, HSBC Amanah, that has been kindly received in Islamic nations. This suggests that banks are becoming more aware of their consumers’ sentiments across cultures.
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