Islamic banking attracts rising number of non-Muslims: Expert: Peninsula

Source ::: THE PENINSULA / BY MOBIN PANDIT

DOHA: An increasing number of non-Muslim expatriates here are getting attracted to Islamic banking, says a senior Doha-based banker.

R Seetharaman (pictured), CEO of Doha Bank, told world leaders of Islamic banking at a key convention here yesterday that Islamic banking windows of commercial banks in Doha had grown at an impressive 18 percent annually over the past three years.

Qatar, unlike some other countries in the region, allowed hybrid banking and a significant development had been that a lot of non-Muslim customers were ‘deflecting’ from commercial to Islamic banking, he said.

“I can clearly see that more and more expatriates are trying to open accounts in Doha Islamic (the Islamic banking arm of Doha Bank).”

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