35% of MENA SMEs excluded from formal banking sector

June 17, 2014 12:58 pm

Zawya has reported that around 35% of SMEs in the MENA region were excluded from the formal banking sector because they are seeking Shariah-compliant products that are not readily available in the market, according to a new study by International Finance Corporation ( IFC ). The study revealed a potential market gap of up to $13.2bn for SME Islamic financing in the region.