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US$900 billion Islamic bond market gets private banks in South Asia excited

A new report by Ernst & Young highlights a growing opportunity for private banks in Asian countries with sizeable Muslim populations such as Malaysia (61%) and Indonesia (88%). The report forecasts a growth in the global demand for sukuk, bonds sanctioned by Islamic law, three-fold from the current US$300 billion to US$900 by 2017. The report attributes this growth to…

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