The study, which was carried out across nine countries, found that of the 36 per cent of banks in the region that offer SME products, only 17 per cent offer Islamic options.
Small and medium enterprises offer a huge untapped market for Islamic banks in the
The latest study by the
The study, which was carried out across nine countries, found that of the 36 per cent of banks in the region that offer SME products, only 17 per cent offer Islamic options. There is huge potential to be tapped for Islamic banks in the SME sector, provided they can come up with the right products, the study said.
The study, which covered
Factors hindering the growth of Islamic SME banking include a high level of risk aversion by banks, poor regulatory environments, differing perceptions of Islamic finance, and a lack of relevant products.
IFC regional director
In its recent report "Islamic Finance Outlook 2014",
The Islamic finance industry's assets are estimated to have grown to
Among the largest global Islamic banking jurisdictions (excluding
The KFH research observed that advanced Islamic banking markets in the GCC and Asian regions are expected to evolve in greater sophistication in terms of products offerings, as well as from the aspect of regulatory advancement by financial regulators.
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