HSBC Amanah to focus on Middle East and Asian emerging markets

GLOBAL: HSBC Amanah, which is optimistic on its growth this year and going into next, sees the emerging markets of Asia and the Middle East as an integral component of the growth of the Shariah compliant financial industry.

"Islamic finance is an emerging markets phenomenon; 80% of the world's Muslims live in Asia and the Middle East. Given that these regions are set to grow faster than the world average, Islamic finance is thus likely to continue growing faster than conventional banking. This is further helped by the fact that growth of Islamic finance has been primarily led by customer pull and not a regulatory push," said Razi Fakih, the global deputy CEO of HSBC Amanah.

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