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PSF Awards 2024

Islamic banks’ retail banking focus will help them weather the pandemic

Islamic banks in the Gulf Cooperation Council (GCC) countries and in South and Southeast Asia are emerging from the coronavirus-induced economic shock, but remain exposed to an uneven recovery across these regions. While regulatory forbearance has masked the deterioration in their financing books, Islamic banks' focus on low-risk retail finance supports their asset quality. High provisioning costs will continue to weigh on the banks’ profitability, but their capital and liquidity buffers should comfortably absorb unexpected losses. Consolidation within fragmented Islamic....

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