Wednesday 20, March 2013 by Isla MacFarlane

GCC Islamic commercial banking assets hit $445 billion

According to estimates by Ernst & Young’s Global Islamic Banking Center, Islamic banking assets with commercial banks in the GCC reached $445 billion at the end of 2012, up from $390 billion in 2011, with the outlook for the industry remaining relatively positive in 2013. This represents a 14 per cent year-on-year growth, which is considerably lower than the five year average of 19 per cent.

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