Islamic finance chiefs to gather in Singapore

Singapore

ISLAMIC finance continues to grow rapidly, but it has been mainly in domestic markets. And so, as the Who's Who in Islamic banking gather in Singapore next week for the 5th World Islamic Banking Conference, they will discuss how the industry should develop products in order to seize opportunities in the international capital markets.

Islamic finance, which bans interest, has advanced as a mainstream value proposition with an increasingly global presence, said Badlisyah Abdul Ghani, CIMB Islamic chief executive. "That said, we as an industry still face the many challenges of a new kid on the block," he said in a statement this week.