Qatari Islamic banks seen growing to $100bn by ’17

Qatari Islamic banks seen growing to $100bn by ’17:

"Qatar’s Islamic banks’ balance sheet are expected to grow to $100bn by 2017 in view of surge in demand for local credit to finance government infrastructure and investment projects, according to global credit rating agency Standard and Poor’s (S&P).

Moreover, the country’s Shariah-principled lenders are slated to expand overseas due to a very small bankable population, it said in a report.

“We foresee Qatar’s Islamic banks continuing to grow quickly over the next five years, reaching over $100bn on the balance sheet by 2017, up from $54bn at year-end 2012,” F Timucin Engin, S&P associate director (financial institutions) said in Doha."

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