Key report to highlight Islamic banking issues
Manama, November 18, 2010
The 2010-11 edition of the World Islamic Banking Competitiveness Report will be launched on Tuesday at the 17th Annual World Islamic Banking Conference (WIBC 2010).
Developed in collaboration with leading global strategy advisory firm McKinsey & Company, the report - now in its seventh annual edition - will provide a comprehensive update on the competitive performance of leading Islamic banks and the development of new strategies for the new global financial landscape.
The Islamic banking industry has continued to grow despite the turbulence in the global economy, with Islamic banks outperforming conventional ones in terms of asset growth.
However, both market values and profitability of Islamic banks have come under pressure, narrowing the gap with conventional peers.
'The analysis provided in this year's report will be even more critical as it comes at a juncture when the major industry players are seeking to adopt best practices and re-visit key strategies and business models to ensure continued growth in a challenging economic environment,' World Islamic Banking Conference managing director David McLean said.
Titled 'In Search of New Opportunities', the World Islamic Banking Competitiveness Report 2010-11 will examine the overall competitiveness of the sector, including its achievements and the challenges it faces.
The findings of the report will be presented by McKinsey & Company partner Amer Afiouni at a specially convened session.
More than 1,200 industry leaders from over 50 countries will be attending the launch of the report.
The three-day WIBC 2010 will be held at the Gulf International Convention Centre from Monday.-TradeArabia News Service