Islamic banks are growing much faster than their conventional counterparts, but despite some improvements, their profitability generally remains below that of their conventional peers, an international report have indicated.
The World Islamic Banking Competitiveness Mc-Kinsey Competitiveness Report survey for 2004 said "Islamic banks are introducing more and more products and more players are entering the industry."
The report, cited by Gulf News, was released at the World Islamic Banking Pre-Conference Briefings which opened on Friday in Manama. The briefings also included a Takaful summit and an Islamic ratings seminar.
