This year’s Islamic Bank of the Year Awards offer another insight into a global industry that continues to go from strength to strength. With entries from a record-breaking number of countries, coupled with a significant increase in first-time entrants as well as newly established Islamic banks, the judges were encouraged by the visible growth of the market over the past 12 months.
Some of this development is the result of regulatory changes, including in Oman, which recently enacted legislation permitting the development of Islamic finance. Elsewhere, however, surging demand for Islamic financial services has catalysed the birth of a new generation of Islamic banks and sharia-compliant windows.
