Islamic Banking likely to grow two-fold in 2009

KARACHI: The expansion of Islamic Banking network continues in spite of global economic slowdown and it is likely that the network grows double of its present size during the year 2009.

President Bank Islami Pakistan, Hasan Bilgrami during media briefing here Wednesday pointed out that the growth rate of Islamic banking is on the rise at a rapid pace and that his bank is also on the same track.

He said the current economic crisis did not affect his bank as it had no stake in the stock market or in the real estate.