Having surpassed the US$1trn mark, we take a look at Islamic banking and its outlook over the next couple of years. Liz Martins, Head of Middle East and North Africa analysis at Business Monitor International, discusses some opportunities and threats of an industry that is expected to double in size over the coming five years.
Suggestions of a technical default on November 26 by UAE-based Dubai World have sent shockwaves through the financial world. Not only are creditworthiness concerns reaching boiling point, but global equity markets, too, seem to initially have gone into panic mode. Business Monitor’s Liz Martins and Terry Alexander discuss the implications of a debt default by… [Read more]
The news that Dubai World, one of the stalwarts of the Dubai economy, is potentially defaulting on its debt is, quite simply, massive. It highlights the sheer scale of a financial crisis that Dubai has been doing its best to keep under wraps for more than a year. The situation is far from clear, but… [Read more]
‘Islamic banks have withstood the recent turmoil in the global banking industry triggered by the subprime mortgage crisis because their rules do not allow dealings in products like derivatives, options or papers that caused the meltdown.’ At least that’s what I keep reading in the media. And it’s a fair point. If the credit crunch… [Read more]
