Dr. Omar Marwan Kamal, head of Ernst & Young's Islamic Financial Services Group in the Middle East, says: "Globally, financial institutions have recognised Islamic banking as a potentially lucrative addition to the mainstream customer segment. No longer limited to Islamic countries or to the Muslim population, strong consumer and commercial demands are now driving Islamic finance forward - particularly in the United Kingdom."
Dr Kamal's comments were made after his team was awarded the Euromoney Best Islamic Assurance & Advisory Award for having completed the most extensive range of assignments in the public and private sectors in 2004. The award was presented yesterday at the third annual Euromoney Islamic Finance Awards Dinner, held at the Langham Hotel, London. Ernst & Young's Islamic Financial Service Group (IFSG) was established as part of the Middle East practice in 1998. Based in Bahrain - the Islamic financial capital of the Middle East - the group serves clients in the Middle East and globally.
