HSBC sees market growth in the Gulf
Feb. 4 - HSBC expects continued market growth in the Gulf, but sees a need for an improvement in areas of Islamic finance.
Regional Head of HSBC Amanah, Asif Mumtaz sees continued growth in the Islamic finance market, notably in the Gulf but also among non-Muslim investors interested in what he calls an "ethical" investment product.
Among constraints on the market that need to be addressed, he sees the need for an improved regulatory environment, better staff training to deliver the product and for tailor-made technology for Islamic finance, rather than adaptations of conventional models.
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