Bangladesh’s Recent Policy Push to Develop Islamic Finance Might Accelerate Industry Growth: Fitch

According to Fitch Ratings (Fitch), the Government of Bangladesh's recent policy push to develop Islamic finance in the country might accelerate the industry's growth, should it be sustained.

Why it Matters?

It is believed the Islamic finance industry has tremendous medium-term development potential, owing to high public demand for Islamic products and the country's solid economic prospects. Fitch notes that Bangladesh's sizeable Muslim population, the world's fourth largest after Indonesia, Pakistan and India, and excellent economic growth prospects could help generate considerable gains in Islamic banking assets over the medium term. Moreover, the significant unbanked population in the country (approximately 50% as of 2017) is also to present opport...