ITALY - FORUM - ABI Internationalisation Forum

(ANSAmed) - ROME - Strengthening economic collaboration with countries in the Gulf Region to increase trade and investment and financing opportunities, also by introducing Sharia compliant instruments to Italy: from Sukuks, or investment certificates compliant with the principles set forth in the Koran to Islamic instruments to collect funds to Islamic financial products destined for the retail sector. Italian and Arab banks, businesses and institutions met with this objective in mind today in Rome at the ABI Internationalisation Forum, which this year is dedicated to 'Islamic banking: how and why', taking place before the coming sector initiative in the beginning of November that will see 10 of the main Italian banks in Saudi Arabia and the United Arab Emirates.

''The forum, which is in its fourth edition, is an opportunity,'' explained ABI, ''to take stock of our economic and financial relations with the countries of the Gulf Region following the crisis and on the role that Islamic Banking can play in the Italian economy.'' According to recent studies, ''Islamic banking,'' added the association, ''is the segment of the global financial industry with the highest rate of growth (15-20% per year) and by 2015, it could exceed 4 trillion dollars in activity with over 1.5 billion clients interested in these products. In the same period, Islamic banking could reach a volume of revenue in Italy equal to nearly 170 million euros, with collections amounting to 4.5 billion euros''. (ANSAmed).

Source : http://www.ansamed.info/en/top/ME.XAM88229.html - Oct 22, 2010