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European Islamic bank tries to tap market driven by oil wealth

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Sat, 2007/06/16 - 11:29 by Muslim Investor

European Islamic Investment Bank, (EIIB) which offers Sharia-compliant financial products, plans to raise up to $600 million of funds to tap the thriving niche market driven by rising petrodollar wealth.

Industry watchers estimate the total liquid assets of high-net-worth Muslim individuals, with financial assets over $1 million, are worth more than $700 billion, and will grow at roughly 10 per cent a year for the next few years.

 

Read the article at Gulf News.

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Muslim Investor

Also in Gulf Times

Sat, 2007/06/16 - 17:20

Also reported in Gulf Times

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