IBS Journal May 2015
er than predicted, so the new rules have only recently been issued. There were also delays in Tunisia, he says. Yazbeck believes the negativity
around Islam as a result of the rise of the Islamic State has not helped Shari’ah-com- pliant banking, reflected in the fact that some banks are trying to overcome this by rebranding it, as ‘participation banking’ or ‘ethical banking’. One unknown at present is Iran, a
potentially large market for banking sys- tems. One or two international suppliers have dabbled in the past but the bulk of the banks use in-house systems or domes- tic packages, with a couple of the suppli- ers seeking to sell their offerings beyond the country. Fanap, within an offshoot called Dotin, is outward looking at pres- ent. Fanap is owned by Pasargad Group, Iran’s largest financial services group. Fan- ap’s main domestic competitors are Tosan
with its Negin and Banco core systems, and Informatics Services Corporation with its Bank-Iran retail core banking offering. Like Dotin, Tosan, via a Malaysia-based subsidiary called IDCorp, has been trying to sell internationally. In 2013, it gained a sale in Somalia. According to UAE government data,
Iran’s Islamic banking assets in 2014 were $482 billion, more than Saudi Arabia, Malaysia and UAE combined. Even if the
Islamic new-name wins by region 2010–2014*
© IBS Intelligence 2015
www.ibsintelligence.com
33
ibs sales league table
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56
