With mounting payment obligations and a worsening balance of payments, Pakistan has returned to the Islamic bond market after a two-year hiatus. In early October, Pakistan mopped up $1 billion through a dollar-denominated Islamic bond with a five-year tenure.
These are exciting times for the nations of the Gulf Cooperation Council (GCC), as the decline in oil revenues is forcing them to finally make dramatic changes to their oil-based economies.
Global Finance magazine profiles the best Islamic Financial Institutions of 2016
QIB controls 43.5% of the Islamic banking market share in Qatar and 11.5% of the overall market and says that the long-term growth prospects remain promising.