Gulf-based Islamic banks face prospect of lower net income growth
After delivering strong results in 2014, Islamic banks in the Gulf face a gradually weakening operating outlook in 2015-2016, largely due to declining oil revenues, says a report published today by Standard & Poor's Ratings Services. But as the report, titled Gulf-Based Islamic Banks Grapple With Weakening Regional Economies, also points out, Standard & Poor’s believes investor demand for Shari’ah-compliant products and supportive government actions will enable Islamic banks in the region to continue to grow and gradually increase their market share. Qatar, Saudi Arabia, and the United Arab Emirates continue to offer the strongest growth opportunities in the GCC region.
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