With the project finance market in the GCC soaring to an estimated $1 trillion, an increasing number of companies in the region are choosing to finance their projects in accordance with Shari’ah principles.
“The growth in Islamic project financing has been phenomenal. It exemplifies the success of both the burgeoning Islamic finance sector and the booming construction industry in the region," said MEED, organiser of the upcoming Islamic Project Finance conference.
"However, since the market is young — barely five years old — there is still a level of uncertainty about the benefits to be gained from Islamic project backing, with little concrete knowledge on standardised Shari’ah regulations or how Islamic project finance can work in tandem with conventional loans," the conference organisers said in a statement.
Read the article on Khaleej Times.