A shortage of expertise and a lack of regulatory harmonisation among Shariah principles are the biggest obstacles for growth in the Islamic finance sector, according to a new report published by the British accounting firm, BDO.
Unfortunately, most of the executives in the Islamic finance sector still see it growing by as much as 20% in the next 3 years because of a lack of confidence in the “conventional” banking sector.
This could reveal the marketing and P.R. strategy behind Shariah Finance. Representatives of the industry frequently LIE about their sector’s performance in the economic downturn. This is clearly an effort to convince customers to do business with Shariah compliant firms…
