The Islamic banking industry is estimated to be worth US$1 trillion and is widely considered to be one of the fastest growing sectors in the financial industry. Due to the increasing demand for Sharia compliant investments worldwide by both muslims and non muslims, it is projected that the Islamic assets are set to hit $US1.4 trillion by 2010
One of the key tenets of Islamic banking is its profit and sharing scheme or Mudarabah, where the banks go into partnership with entrepreneurs, and in doing so, shares their risk, prompting banks to make serious considerations before providing funds to the investor. The other is the cost plus scheme known as Murabaha where banks purchase assets desired by customers and sell it to them via installments at an agreed sum, thus adhering to Sharia principles banning the provision of interest.
RBS Islamic banking offers its clients competitive Islamic banking solutions by having one of the largest options for Islamic wealth management products in the region.
- To offer a credible offering in Islamic Banking, committed to the highest Shariah standards in the Islamic banking industry.
- To be a leading Shariah-compliant provider of relationship based banking and innovative wealth management, consumer finance and business banking solutions.
- To offer our clients commercially viable products that have convenient access to banking which are in line with their beliefs and ethics.
