Islamic Banking & Takaful
The Middle East markets have recognized that Sharia compliant alternatives in the areas of banking and insurance are indeed attractive to consumers, end users, and financial intermediaries. Islamic banking and Takaful are buzzwords in today’s financial world not only in the region but are now globally recognized in the key financial centres of the world. The Middle East played a key role in the development of this niche industry in the early 1970s. Today, with the expansion of economies of the region, there has been unprecedented growth in new institutions targeting to compete with global players for a greater share of the regional financial markets.
PricewaterhouseCoopers in the Middle East has played an important role in the development of the industry, working with key industry players as well some of the prominent standards setting bodies. Our clients in the Islamic financial services sector include local, regional and international banks, insurance companies, real estate investment trusts, mutual funds as well as some of the major regulators and regulatory bodies.
