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Country reportsNovember 7 2012

Noor Islamic Bank pushes Islamic finance towards maturity

Islamic finance is increasingly being viewed as a credible alternative to conventional finance, but Hussain Al-Qemzi, group chief executive of Dubai-based Noor Investment Group and chief executive of Noor Islamic Bank, recognises that Islamic institutions must work together if they are to compete with conventional banks.
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Noor Islamic Bank pushes Islamic finance towards maturity

Q. What is Noor Islamic Bank’s growth strategy?

A. Our growth strategy is one of prudent growth, as we seek to extend the reach of our corporate advisory, capital market and structuring capabilities. This year will be our first full year of sustained profitability, in line with our five-year forecast when we launched in 2008. We are continuing to develop our retail offerings, with a strong focus on enhancing our customers’ online and mobile banking experience. At the same time, we continue to seek opportunities in international markets as cross-border investment opportunities emerge. Currently that is Turkey and south-east Asia.

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