Islamic finance needs to move beyond retail market

26 September 2010

Industry should develop its capital markets globally

To compete better with conventional finance, Islamic finance will need to move beyond the retail market and develop its capital markets globally, an official from consultancy Deloitte told reporters in Dubai at the launch of the firm’s Middle East Islamic finance leaders survey. “Islamic finance still represents less than 1 per cent of the global market. It’s not yet punching its weight,” Daud Vicary Abdullah, global leader of Deloitte’s Islamic finance group, was quoted as saying by Reuters.

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