Saudi Arabia tops Ernst & Young’s World Islamic Banking Competitiveness Report 2013
According to Ernst & Young’s World Islamic Banking Competitiveness Report 2013 which was released on Monday, global Islamic banking assets of commercial banks will most probably exceed $1.8 trillion next year. Compared to that, in 2011 the assets were worth $1.3 trillion. The robust growth of the Islamic banking industry continues its course on a global scale. The top 20 Islamic banks registered 16% growth in the last three years. Saudi Arabia in particular emerged as the largest market for Islamic assets.