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FINANCIAL NEWS
UAE’s Islamic banking assets reach USD142bn in Q1
30 Jun 2017
(MENAFN) The UAE’s AED522bn Islamic banking assets will help fuel the increase of the nation’s Halal sector, as proclaimed a research of the Halal Expo, Dubai, 2017.
Meanwhile, seven Islamic banks out of the 23 recorded commercial banks in the country show almost a fifth of the nation’s banking assets.
Accordingly, in the Jan-March period of this year, Islamic bank”s assets had a higher growth of 3.2 percent than the conventional ones.
Islamic banks’ credit to individuals posted 7.6 percent to AED126bn in the cited period of the year compared to 2 percent growth in the conventional banks’ credit to individuals.
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