Financial Services

The first sale of an Islamic finance portfolio since Qatar’s decision to ban conventional lenders from conducting sharia-compliant banking operations is a harbinger of what’s to come as the Islamic finance sector begins to benefit from the ruling. The domestic segment, however, may have to contend with greater competition from foreign Islamic banks keen to enter the lucrative market.

Bank lending in Kuwait remained relatively flat during the first half of 2011, though this may have more to do with demand than banks being unwilling to extend credit.

The Philippines’ central bank is confident the country’s financial system can withstand any strains imposed by an economic slowdown in Western markets, though it is keeping an eye on the domestic banking industry for any signs that it may be catching the chill afflicting the US and Europe.

Dubai’s capital markets are much better placed to handle the recent economic fall-out in the US and the eurozone, having learned several lessons from the 2008 global crisis and its own downturn two years ago.

Although a number of Egypt’s largest banks posted notable growth during the turbulent first half of 2011, the second half may prove more challenging as tourism, investments and fund flows continue to decline.

Les marchés financiers marocains ont globalement connu un répit en 2011, malgré la bonne performance et les perspectives prometteuses de certaines sociétés clés dans les domaines bancaire et immobilier, deux piliers de l’économie marocaine. Toutefois, de nombreux acteurs du secteur minier et autres sont allés à contre-courant de la tendance et un certain nombre d’accords importants planifiés devraient stimuler les marchés au cours de l’année à venir.