Bright forecast for Islamic institutions

Islamic financial institutions with their Shariah compliant innovative tools were bound to outpace the conventional global banks and financial institutions.

"They will have a pioneering role in the next few years in revitalising global Islamic finance segment due to their effective methods in attracting investments," said the Al Salam Bank Chief Executive Officer, Yousif Taqi.
The bank was the golden sponsor of Euromoney's seventh annual Islamic Finance Summit and Islamic Finance awards to be held in London on February 5 and 6.

He said the innovative tools, which the Islamic financial sector was able to introduce to the market have proved their great potential in matching all conventional financial transactions. The Islamic dealings, which were distinct by their transparency, boost the investors' trust in the capabilities of the Islamic financial institutions.

"Islamic finance has become a preferred option to Muslim and non-Muslim clients as well," he said