S&P says Islamic finance growth to slow down.
Global Banking News-October 19, 2015--S&P says Islamic finance growth to slow down
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Global Banking News - 19 October 2015
According to ratings agency, S&P, the growth of Islamic finance is to slow down because of a fall in the price of oil.
The industry is set to slow down next year over the sharp fall in oil revenues and rapid regulatory changes.
In a report, the agency said, 'We think Islamic finance growth will drop to single digits in 2016 from between 10 percent and 15 percent over the past decade.'
The Islamic finance industry had exceeded an estimated USD2tn in value on the strength of oil prices.
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