Dr. Mahmoud Mohieldin

World Bank and IDB sign Islamic finance deal

A Memorandum of Understanding (MoU) has been signed by the World Bank and the Islamic Development Bank (IDB). It will provide a framework for collaboration between the two parties and support global, regional and country efforts in the development of Islamic Finance. The common objectives of the two banks include fostering, encouraging, and studying the expansion of Islamic finance worldwide. Some of the leading principles of the MoU are sharing knowledge sound practices in the Islamic financial services industry and cross fertilization of ideas.

World Bank MD sees Islamic finance asset growing 10%-15% annually

The expextations for the next three years are for global Islamic finance assets to grow between 10% and 15% a year. They will be supported by strong demand and supply factors as well as effective regulation and quality of services. Since the number of banks that offer Islamic finance and profit and loss sharing products is continually increasing, competition will contribute to the assets' growth.

More on: http://biz.thestar.com.my/news/story.asp?file=/2012/9/19/business/120456...

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