Jeddah IRTI, Arab Academy sign agreement on Islamic banking expansion

08 Apr 2014

(MENAFN) Jeddah-based Islamic Research & Training Institute (IRTI) and the Alexandria-based Arab Academy for Science and Technology have signed an agreement to expand Islamic banking and finance in the Arab world, according to Arab News.

The agreement includes plans to translate books in Islamic banking and finance into English. The IRTI Director General said: “Most books in the industry are now in English.”

Islamic banking is now expanding rapidly worldwide, especially after the global financial crisis.

IRTI Director General Mohd Azmi Omar said: “Islamic banks finance productive projects that can boost real economy and do not engage in speculative and unethical business activities.”

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