The campus is set to become the largest dedicated hub for AI and technology companies in the Middle East and North Africa
uae11 hours ago
Combined assets of global Islamic financial institutions (IFIs), which are expected to post a growth of 20 to 30 per cent this year, have already shown signs of deceleration.
“However, IFIs benefit from a number of buffers (including ample capital and strong retail platforms) that will enable them to continue growing, albeit at a slower pace, before resuming more rapid growth, most probably within an 18-month timeframe,” a report by Moody’s said.
In times of crisis, clients may find it more comfortable doing business with an Islamic bank as such institutions are perceived as focusing on the basics of financial intermediation and depositors may therefore view them as safer havens less prone to excessive financial innovation, the report noted.
In the GCC, IFIs, despite their higher direct and indirect exposures to the property market compared to conventional peers, have displayed strong resilience amid the current global financial debacle, the report said.
The campus is set to become the largest dedicated hub for AI and technology companies in the Middle East and North Africa
uae11 hours ago
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