ASIA: Islamic finance also affected by US subprime.

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Updated February 27, 2008 21:33:00

Islamic finance based on Shariah law is enjoying a surge of interest in Asia. Increasing wealth and high oil prices are contributing to growth in the sector of 15 per-cent for each of the past three years. The market is now worth around 700-billion US dollars. Analysts say it should be even bigger but just like the rest of the world, its felt the effects of the US-generated shake-out in global financial markets.

Presenter: Karon Snowdon
Speakers: Dominique Gribot-Carroz, Assistant Vice President of Moody's Investor Services in Hong Kong.

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