Friday, November 27, 2009

Islamic finance attracts borrowers

Friday, November 27, 2009
By our correspondent

KARACHI: Islamic finance is an increasingly viable route for access to finance because of its appeal as a potentially ethical form of finance which has attracted attention in the current economic climate.

“The impressive growth of 10 to 15 per cent per annum seen in recent years emphasises the potential market for such products,” said Dr Afra Sajjad, Head of Education and Policy Development, ACCA Pakistan at a seminar.

“We have tried to stimulate a discussion on the future of Islamic finance as a mainstream financial service globally and in Pakistan,” she commented.

ACCA Pakistan recently organised an Islamic finance seminar in Lahore, Karachi and Islamabad, which were hosted from Lahore through a WebEx session.

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, thereby realising its full and unique potential.

However, in marketing terms, a large gap exists between the perception and reality of its current brand attributes, the participants said.

No comments: