Islamic finance industry is set to grow 20%: QIB chief

DOHA: The Islamic finance industry is expected to grow annually 20% in the short to medium term, according to Qatar Islamic Bank (QIB) CEO Salah al-Jaidah. Addressing the 5th Islamic Financial Services Board (IFSB) summit in Amman, al-Jaidah also said the impressive year-on-year growth of Islamic finance augured well for the viability and future of the sector.

The event was sponsored by QIB Al-Jaidah highlighted QIB’s desire to promote standardisation and harmonisation of Islamic financial services. Top officials of QIB, a member of the IFSB, attended the summit, which was hosted by the Central Bank of Jordan and attended by 300 leading international Islamic organisations