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UK banks eye Islamic sector
- United Arab Emirates: Sunday, February 04 - 2007 at 10:05
UK based banks, such as the Royal Bank of Scotland Group and Barclays, are moving in on the Islamic finance sector, reported Bloomberg. Recent high oil prices have boosted personal and corporate wealth in the Middle East and banks which previously offered only conventional products are now broadening their portfolios according to Debashish Dey, a Dubai based partner at the Clifford Chance law firm, which advises banks on Islamic finance.
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Jonathan Sheikh-Miller, Deputy EditorSunday, February 04 - 2007 at 10:05 UAE local time (GMT+4)
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This article was updated on Mon Feb 05 2007.
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