IslamicFinance.de

Islamic banking assets with commercial banks in the GCC grew by 14 percent in 2012, conventional banking assets grew by only 8.1 percent -- indicating the relative resilience and potential of the industry. Qatar was reportedly the fastest growing market where Islamic banking assets are expected to have grown by more than 23 percent during 2012. The outlook for the Islamic banking industry in the GCC is positive. However, Islamic banks remain technologically disadvantaged as software systems are primarily designed for conventional banking. Global Islamic banking assets with commercial banks are now at $ 1.55 trillion at end of 2012 and projected to exceed $ 2 trillion by 2015.