54% Consumers Uncertain over the Difference between Islamic and Conventional Banking Services

Survey results to be announced at the International Islamic Finance Forum Abu Dhabi

Abu Dhabi – October 6th, 2010: A recent survey conducted by YouGov Siraj, to understand consumer banking preferences in the region, with a focus on Islamic banking, revealed that 54 percent of consumers cannot differentiate between Islamic and conventional banking services. The reason cited was both banks provide similar products and services.

The findings are crucial particularly, during a period when Islamic banks are differentiating themselves with a renewed emphasis on fundamental ethics at the heart of Islamic banking model.

The survey has also been conducted with an aim to answer an important question: “Would the average customer prefer a bank that promises moral salvation or one which offers friendly, convenient service, value for money, and an envy inducing credit card?” The complete results of the survey will be released exclusively at the International
Islamic Finance Forum Abu Dhabi on October 12th, 2010.

The International Islamic Finance Forum Abu Dhabi will be held from October 11th - 12th, 2010 at the Le Royal Meridien Hotel in Abu Dhabi, United Arab Emirates (UAE). The event will showcase a new interactive round-table format; panel discussions will highlight key issues affecting in the Islamic finance industry and the way forward.

The event boasts eminent speakers such as Afaq Khan, chief executive officer, Standard Chartered SAADIQ, Khalid Howladar, senior credit officer for asset backed and sukuk finance, Moody’s Middle East and Mufaddal Khumri, senior vice president and head of Islamic banking, Abu Dhabi Commercial Bank among others.

About International Islamic Finance Forum Abu Dhabi:

The International Islamic Finance Forum Abu Dhabi is a premier gathering of industry leaders and practitioners taking place at Le Royal Meridien Hotel in Abu Dhabi on 10-12 October, 2010. The event features a series of plenary sessions which inspire a values-led approach to Islamic banking, and a set of interactive round table discussions covering a full range of the most topical Islamic finance debates and led by top Islamic finance leaders. www.iiff.com