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Islamic Banking – Intriguing Introduction

Today I ran across a very interesting article from BusinessWeek that talks about the growing business of Islamic banking. The article is old (August 2005), I guess the figures increased, but the fact that the article states is still the same; Islamic banking is a door to knock for financial institutions! According to the article, there are around 265 Islamic banks that manage assets of over $262 billion. Among international banks that went into the Islamic banking business are HSBC with its HSBC Amanah Islamic Bank, Citibank, UBS with its stand-alone Islamic bank based in the United Arab Emirates.

This subject is really an attractive one to study and research; I think I will be writing more about it, how it is based, its benefits and setbacks, and how beneficial it is to financial institutions.

posted by Unknown @ 2:25 PM,


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