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Report: Islamic banking is 2007 success story
- Middle East: Monday, November 24 - 2008 at 12:15
According to a recent report, profitability was generally higher for Islamic banks last year, especially in the GCC, while conventional banks with an Islamic window started to emerge as significant players. The report compiled by McKinsey & Company also urges unconventional banking organisations to increase the focus on operational excellence and profitability as well as to rethink the core position of the industry and its contribution to the global financial ecosystem.
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StaffMonday, November 24 - 2008 at 12:15 UAE local time (GMT+4)
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