Middle East Economic Survey

VOL. LII

No 10

9-Mar-2009

REGIONAL

Islamic Banks And Takaful Companies Challenged By Financial Crisis, S&P Reports

The global financial crisis is having a less disruptive effect on the Gulf Islamic financial institutions (IFIs) and takaful companies, notes Standard & Poors Rating Services (S&P) in a 27 February report, thanks to their compliance with Shari'a law which prohibits interest-based financial products. S&P suggests the resilience of takaful and...