World Finance announces winners of 2017 awards

Conventional banks may have been left reeling by 2016’s numerous economic shocks, but Islamic Finance has continued to thrive over the past 12 months. A growing demand for Sharia-compliant services has seen the industry expand rapidly over the past decade, and the Islamic banking market is showing no signs of slowing down in 2017. As a wave of new Sharia-compliant competitors begin to flood the market, the World Finance Islamic Finance Awards honour the Islamic institutions staying ahead of the curve. 2017 is shaping up to be an exciting year for Islamic finance. Islamic banks are now expanding at an annual rate of 19.7 percent, far outpacing the growth of conventional banks.—Agencies

Published in Pakistan Observer, April 21st,2017