Islamic Finance, Global Leader

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Highlights - Corporate News

Islamic Finance Becoming Global Leader
The global financial meltdown has presented an unprecedented opportunity for Islamic Finance to establish itself as a truly global leader in the financial services industry. However, in marketing terms, a large gap exists between the perception and the reality of its current brand attributes.  The speakers expressed this view at a seminar on ‘Islamic Finance’ arranged by the ACCA Pakistan here Wednesday. The workshop facilitators Dr Afra Sajjad, Head of ACCA Education and Policy Development and Aziz, who represents ACCA at the Federation of European Accountants (FEE) Task Force on XBRL and UKTI Accounting Sub-group on Islamic Finance led the discussion deliberating upon the success of Islamic Finance in current economic scenario and ways to bridge this gap. Dr Afra Sajjad said that Islamic finance is an increasingly viable route for access to finance, and because of its appeal as a potentially ethical form of finance, it has attracted attention in current economic climate. The impressive growth of 10 to 15 percent per annum seen in recent years emphasizes the potential market for such products, she added. “Today we have tried to stimulate a discussion around the future of Islamic Finance as a mainstream financial service globally and in Pakistan,” Dr. Afra Sajjad said.

Courtesy: The Nation

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