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Gulf News: Islamic finance gaining ground in Middle East June 22, 2007

Posted by islamicfinanceaffairs in Uncategorized.
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Gulfnews: Islamic finance gaining ground

At least 50 per cent of all new project financing in the Middle East features some element of Islamic funding, according to MEED Projects.

And $30 billion of sukuks are expected to be issued by the end of this year, adds leading law firm DLA Piper.

“DLA Piper believes that Islamic finance will continue to grow in importance and will become an established financing means to raise funds from diverse sources and along the principles of Islamic partnership and co-sharing of risk and reward,” said Oliver Agha, global head of Islamic Finance at DLA Piper.

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