Three-pronged strategy for Islamic banking
By ELAINE ANG
CITIGROUP will focus on a three-pronged approach to grow its Islamic banking business in Asia, said Citigroup Asia head of Islamic banking Rafe Haneef.
“We are looking at further developing our consumer sector, corporate investment banking structure and wealth management business,” he told Starbiz.
Although Citigroup already has a range of Islamic products – normal retail banking products such as home financing, current and saving accounts – it wants to further improve on the product range.
“Our strategy is to divide the consumer market into different segments and target the segments with various products that will meet their financial needs.
“The danger is to classify Islamic finance into a single segment approach. Just because there are 10 home financing providers does not mean we will not be successful in the home financing segment. For example – our features are different and we are focusing on different segments,” Haneef said.
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Pertinent Links:
1) Three-pronged strategy for Islamic banking
2) Islamic Economics and Shariah Law: A Plan for World Domination
Monday, February 05, 2007
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