Tuesday, August 13, 2013

Standard & Poors says Sharia finance will be worth $3 trillion by 2015, London seeks to be hub

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3/11/13, "City in fresh bid to become Sharia finance hub," UK Telegraph, Denise Roland

"London is set to go head-to-head with the world's leading Islamic finance centres as the government pushes to make the UK a leading centre for Sharia-compliant lending."

"Partly because it has the support of cash-rich funds from the Gulf, Islamic finance fared relatively well during the global financial crisis, and it is expected to keep growing.

Standard & Poor's has forecast that the market for Sharia-compliant products will double to $3 trillion (£2 trillion) by 2015, while consultancy Oliver Wyman estimated that 150 new Islamic financial institutions will be needed globally by 2020 to satisfy demand."...


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