Moody's backs Islamic banks to emerge stronger

ArabianBusiness:Although the Islamic finance industry has been hit by the fall in oil prices, accumulated capital will help insulate it from the turmoil in financial markets, and the sector will emerge stronger once markets rebound, Moody’s said on Thursday.

“There is still a vital link between oil prices and Islamic banks as most of the latter operate in hydrocarbon-exporting economies. As they face increasingly limited funding sources, Islamic banks will find it more difficult to grow going forward,” said Anouar Hassoune, co-author of the report...Read More