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FinancialNews


  • 30-06-17

    UAE's Islamic banking assets reach USD142bn in Q1

    (MENAFN) The UAE's AED522bn Islamic banking assets will help fuel the increase of the nation's Halal sector, as proclaimed a research of the Halal Expo, Dubai, 2017.

    Meanwhile, seven Islamic banks out of the 23 recorded commercial banks in the country show almost a fifth of the nation's banking assets.

    Accordingly, in the Jan-March period of this year, Islamic bank"s assets had a higher growth of 3.2 percent than the conventional ones.

    Islamic banks' credit to individuals posted 7.6 percent to AED126bn in the cited period of the year compared to 2 percent growth in the conventional banks' credit to individuals.

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