Islamic Banking: A Growing Force in the World of Finance
Islamic banking is a growth industry, and not just in the Islamic business sector. Banks from all parts of the world, including Western brands like HSBC, Citigroup and UBS, are moving fast to secure a place in the market. For whilst the profit motive and market forces invigorate Islamic banking as much as any other business, Sharia'a law forbids certain financial practices that lie at the foundation of traditional commerce, notably lending money on interest. Banks looking to operate in such an environment therefore need partners with a thorough understanding of the sector and proven experience in it.