Soloman Teague, web editor for the HFR, revealed that a variety of Islamic options were being brought out to meet consumer needs, with companies falling over themselves to bring out products.
Teague highlighted the fact there was a lot of index products coming through and suggested it was a dynamic emerging market: “Islamic financial products are a little bit more exotic than what you would have seen a few years ago, and are generally regarded as being fine.They may be at the more innovative end things like Islamic mortgages. They’re an example of how this kind of thing is moving.”
He said that there was a definite need for Islamic finance to develop tools to enable investors to hedge against risk, adding that the number of banks in the Middle East developing such things was evidence of growing demand. Teague also insisted that as more Sharia compliant products come onto the market, more and more consumers will continue to take them on.
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