gfmag.com - Islamic Finance is growing beyond traditional borders to encompass new markets worldwide.
The Islamic finance industry emerged relatively unscathed from the 2008 financial crisis —touting itself as an alternative to the leverage and greed that fuelled the subprime crisis in conventional financial markets. Now in the midst of what looks like another crisis of confidence in global financial markets, practitioners are highlighting its benefits again.
“Islamic finance is a pool of stable capital looking for a home. Every CFO, every government, should look at it as a stable source of liquidity,” stated Afaq Khan, CEO, Islamic Banking, Standard Chartered Saadiq, at SWIFT’s annual Sibos conference in Toronto in mid-September. In a debate entitled Islamic Finance 2.0 Khan and other market luminaries stressed that Islamic liquidity is looking for new markets outside of its traditional centers in the Middle East and Malaysia in order to balance portfolio returns. (source)
