Don't rock my boat .... by Emma Khalil    El-Sisi urges Vietnamese industrialists to invest in Egypt    Abdel-Rehim Ali issues new book to discuss ISIS plans    Egypt's state wheat purchases surge after private sector crackdown    Culture Minister opens book fair at Saint Mark's Cathedral    Egypt's tourism revenues rise 170 percent: official    Egypt, China sign $739M deal, $45M grant for 2 projects    Egypt, China sign second phase of grid-power agreement    Putin foresees the return of Moscow-Cairo flights "very soon"    MP denies starting petition to drop membership of Abdel Rahim Ali in Parliament    An Apology Letter to the Egyptian Parliament – Al-Bawaba News    Egyptian ethnomusicologist and pioneer of electronic music Halim El-Dabh dies at 96    Naguib Mahfouz portrait dedicated to Johannesburg University    Press Release from Al-Bawaba Newspaper following confiscation of Sept 3 Issue    Death toll of Egyptian pilgrims rises to 40    Egyptians continue to excel in World Taekwondo Championship    Egyptian Shahd al-Hosseiny Qualifies to Semi-finals    تغريدة - جماهير ليفربول بعد أداء صلاح أمام واتفورد: "لا نحتاج كوتينيو"    Bodybuilder breaks neck, dies after botched back flip    تغريدة - جمهور أرسنال بين "الأفضل في وسط ملعبنا" و"يجب أن يرحل" بعد أداءه أمام تشيلسي    رسالة نيمار الوداعية: كان شرفا لي أن ألعب مع أفضل رياضي رأيته في حياتي    Propertyfinder receives demand requests for property worth EGP 4.6bn in Q1    HHD, Al Oula sign EGP 500m finance lease to develop New Heliopolis City utilities    2 June deadline to serve units allocated for Egyptian expats    Polezni Durak and the summit of Riyadh    Egypt pledges right to self-defence before UNSC by Libya airstrikes    Former ERTU head Safaa Hegazy mourned    How 5 alternatives left ‘no option' for Maspero Triangle residents    In Pictures: Lanterns' brightness glows Egypt's ashen streets    Borussia Dortmund win German Cup, beating Frankfurt 2-1    Raikkonen on pole as Ferrari lock out Monaco front row    Egypt needs huge investments and 10 million tourists    Supreme Council of Antiquities to launch Cairo Pass permits for foreigners in Cairo and Giza    Summer Of Love: Beatles album &. Pepper's turns 50    Star Wars turns 40, but the Galactic Empire is far from over    High Administrative Court questions constitutionality of Emergency Law articles    Army destroys two tunnels beneath Egypt-Gaza border    After tribal clashes, is Sinai militancy turning into proxy war?    Newsreel    New Year routine    Imminent cabinet reshuffle    Footballer furore    In quest of national consensus    ‘Protecting the weakest'    Briefs    IMF open to scrutiny    Art heist goes wrong    All the fun of the Book Fair    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





Global Islamic Banking Valued At US$1.5 Trillion At End-March: El-Beltagy
Published in Amwal Al Ghad on 13 - 05 - 2013

The Chairman of Egyptian Islamic Finance Association, Dr. Mohamed El-Beltagy, has revealed that the volume of global Islamic banking has reached US$ 1.500 trillion at the end of last March, citing statistics from international financial institutions.
El-Beltagy expected Islamic banking to significantly grow in the upcoming period as many countries have started to invest in Sharia-compliant financial instruments such as sukuk (Islamic bonds).
The Egyptian Islamic Finance Association will organize a conference next month to discuss sukuk applications after approving the law and setting the executive regulation, he told Amwal Al Ghad.
The volume of Islamic banking in Egypt reached EGP 102 billion at the end of last January, accounting for 7.4% of the total volume of banking transactions in the country.
The volume of Islamic banking transactions rose 2.6% since the outbreak of 2011's revolution. Islamic deposits surged to EGP 83 billion at the end of last January, accounting for 7.6% of the total volume of deposits which reached EGP 1.113 billion at the end of last January, he added.
The volume of Islamic finances reached EGP 72 billion at the end of last January, accounting for 7.2% of the total volume of finances reached EGP 524 billion.


Clic here to read the story from its source.