Islamic banking set to continue growth in Asia
Afp, Singapore
Islamic banking and finance is likely to continue growing in the Asia Pacific region but the real test of its sustainability will be how the system reacts to a major financial crisis, a report said Thursday. The industry is set to develop its own identity separate from conventional banking as new Islamic financial products are rolled out, said the report by Financial Insights, a company under market research and analysis firm International Data Corp (IDC). "The future for Islamic banking and finance in Asia looks bright and continued support by government authorities should ensure this future is grounded in strong, sensible regulation," said Financial Insights analyst Abhishek Kumar.
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