Islamic banking assets to reach 1 trillion dollars in 2012: expert

General Press Releases Wednesday June 27, 2012 18:27
กรุงเทพฯ--27 มิ.ย.--AIT

Global Islamic banking assets are set to reach 1 trillion USD in the year 2012. Although this remains a small proportion of global banking, there are positive developments in Islamic finance in countries like the United Kingdom, France, Germany and France. This was stated by Dr. Mohammad Akram Laldin of the International Shari'ah Research Academy for Islamic Finance (ISRA), Malaysia, while delivering a talk on 'The value proposition of Islamic finance and the misconception about it' recently (21 June 2012) at the Asian Institute of Technology (AIT).

Dr. Laldin remarked that to a certain extent Islamic banking has been cushioned from the recent financial crisis. This is primarily because derivative products in Islamic banking are very limited, he reasoned. Tracing the historical landmarks in Islamic banking, Dr. Laldin stated that the challenge is to maintain the growth momentum. He posited questions on whether Islamic finance can offer solutions to world’s financial problems, and whether it could be adopted as the international financial system.

He listed various misconceptions about Islamic finance, stating that there is an incorrect opinion that Islamic financing is for Muslims only. Another misconception is that it is a replica of conventional finance. “Forms and structure of conventional banking and Islamic banking might be similar, but the substance is different,” he said.

The talk was organized by the Muslim Students Association (MSA) of AIT. Welcoming the speaker, Mr. Olivier Drean, Interim-Head, External Relations and Communications Office (ERCO) complimented the role of MSA in organizing the talk. AIT President, Prof. Said Irandoust thanked Dr. Laldin for delivering the talk.

Photo caption: Dr. Mohammad Akram Laldin

Latest Press Release

มหกรรมการค้าและการลงทุนด้านการผลิตอุปกรณ์ขั้นสูงบนฝั่งตะวันตกของแม่น้ำเพิร์ลครั้งที่ 5 จัดขึ้นที่เมืองฝอซาน มณฑลกวางตุ้ง

เมื่อวันที่ 20 กันยายนที่ผ่านมา มหกรรมการค้าและการลงทุนด้านการผลิตอุปกรณ์ขั้นสูงบนฝั่งตะวันตกของแม่น้ำเพิร์ล (Exposition for Investment and Trade of Advanced Equipment Manufacturing on the West Bank of the Pearl River: AEME) ครั้งที่ 5...

Dont miss the international seminar #The Givers Network 2019 Bangkok#

Bangkok, Three international organizations – Asia Philanthropy Circle represented by Mr. Laurence Lien, Thai Young Philanthropist Network (TYPN) by Ms. Ada Chirapaisarnkul, and Dhanin Tawee Chearavanont Foundation by Mrs. Thippaporn Ahriyavraromp...

Centara Grand Mirage Beach Resort Pattaya Sport Day 2019

Centara Grand Mirage Beach Resort Pattaya led by Tiwaporn Mahaprom, Director of Human Resources along with management and staff enjoyed "CMBR Sports Day 2019". This was the 2nd CMBR Sports Day competition held at beach front of the hotel. The purpose of...

Mars accelerates action to tackle climate change with new #PledgeForPlanet initiative

- With the #PledgeForPlanet initiative, Mars announces fresh ambition to further cut emissions from its operations in line with the key aim of the Paris Agreement – to limit global warming to 1.5 degrees Celsius - Mars calls for collective action,...

U.S. Dairy Inspires Healthy Snacking Advances at Fi Asia 2019

Innovative, Thai-friendly new product concepts with U.S. dairy proteins and permeate aligned with consumer trends for nutritious and adventurous eating Consumers today are more discerning than ever, seeking out convenient ready-to-eat and ready-to-drink...

Related Topics