An online Muslim photo & wallpapers. Islamic wallpapers, latest news & updates.
Islamic Wallpapers
natutre_wallpaper_by _islamic_wallpaper
natutre_wallpaper_by _islamic_wallpaper
Allah Wallpaper
Filed under: Latest News — admin     3:12 pm May 30, 2011

Banking giant HSBC said Monday it was thinking of introducing Islamic financial services in Australia where the government is keen to use such offerings to grow as a regional finance hub.

“We are a major player in Islamic finance globally and that’s an area that we are keeping an eye on,” HSBC Bank Australia chief executive officer Paulo Maia told Dow Jones Newswires. “It could be the next one.”

“We see demand growing,” Maia added.

Australia has been slow to introduce banking services that comply with sharia law but has said providing Islamic financing was a crucial plank in its strategy to make the nation a financial hub in the Asia-Pacific.

A 2010 government report on Islamic banking said growth in such services was being driven in part by foreign petrodollar investors whose domestic economies and financial systems were too small to absorb all oil export revenues.

Growth was also being spurred by rapid Muslim population growth worldwide and rising living standards.

Islamic financial products have an ethical focus and notably exclude investment in alcohol and gambling while under Muslim sharia law the earning of interest is prohibited.

Australia, which has some 365,000 Muslims, has said it is well positioned to service almost one billion Muslims who live in the Asia-Pacific region.

Source : AFP

No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URL

Leave a comment

Islamic Wallpapers
We are Hiring
Join Community, Make Friends
Latest News
Urdu News
Hindi News
Kalima Shahada mentioned in Quran
Stories of Sahabah
Popular Quran Quotes
Random 40 Hadith
Modern Muslim Women & Challenges
Marriage & family in Islam
Muslim Women World
Health, Beauty and Islam
Latest Posts
Muslim Women Rights In Islam
Random Photo
Bookmark and Share
Sponsored Links
  1. Surat Web Design
  2. Web Desgin Company
  3. kolkata Web Design Company
Most Popular Video
Facebook Like
Recent Comment
About Muslim Wallpapers
Islamic Blog provides information about latest Islamic News and updates. The website also contains large number of Islamic wallpapers and photos. You can also get here Islamic knowledge. We have also collected information about latest and relevant Islamic subjects. Apart from this you can find glittering stories off Sahabah.
Copyright © 2022 All Rights Reserved.