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Islamic banking assets to surpass USD1.8trn globally in 2013 #islamic finance assets #islamic finance growth

http://www.zawya.com/mobile/default.cfm/actstory/sidZAWYA20130204043436

[tags islamic finance assets, islamic finance growth] Islamic banking assets to surpass USD1.8trn globally in 2013 - The Saudi Gazette RIYADH - Global Islamic banking assets are forecast to cross $1.8 trillion in 2013 up from $1.3 trillion in 2011, Ernst & Young said in its World Islamic Banking Competitiveness Report 2013.

It noted that the Islamic banking industry continues to record robust growth, with the top 20 Islamic banks registering a growth of 16 percent in the last three years.

The report said the Islamic banking industry in Saudi Arabia - with an estimated $207 billion of Islamic assets - was ranked first in 2011 followed by Malaysia with total assets of $106 billion and UAE third with total assets of $75 billion.

With the majority of the Muslim community being unbanked together with the need to attract foreign investment from Gulf Cooperation Council (GCC), the market appetite for these products co…