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"Standrdandborz" expects slower growth of the Islamic banking sector in 2016

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"Standrdandborz" expects slower growth of the Islamic banking sector in 2016



November 9, 2015  0



She said, "Standard & Poor's" Foundation for the credit rating, it is likely to decline growth of Islamic banking sector in 2016, a slower pace, after posting a rise of between 10% to 15% over the past decade.

The report added that the Islamic banking sector, still has momentum, to continue to progress and maintain some growth, pointing out that governments in key markets, see in Islamic banking, a tool for the protection of investment spending has, and which addresses to some extent the negative impact of lower oil prices on their budgets .

The global head of Islamic finance at the "Standrdandborz" Mohamed Damak: Islamic banking sector has achieved significant progress, and exceeded the size of the assets of the Islamic banking around the world two trillion US dollars.

He continued global head of Islamic finance at the "Standrdandborz", it is expected that the sector size up to US $ 3 trillion, over the next decade, he said, adding that it is likely to lead efforts to contribute to the Islamic banking sector, and the sector's contribution to the development of the real economy to drive growth Parties .

Head of Islamic finance Khalid Hodar On the other hand, he said, earlier, that the total volume of Islamic instruments fell in 2015, because of the difficult conditions experienced by emerging markets, particularly in the market.

He expected to see all versions foreign and local currency rise in 2016, especially in light of the drop in oil prices, which would raise the amounts of sovereign instruments, sovereign and particularly in Saudi Arabia related.

The Standard & Poor's had confirmed earlier that the Sukuk market in the world to correct its trajectory in 2015 after Malaysia's central bank stopped issuing instruments.

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