Appeal of Shariah compliant financing mechanism is also likely to be a powerful tool for enhancing access to development finance and empowering the poor and vulnerable groups, particularly if Islamic banks extend their reach in rural areas which are currently not effectively served by conventional system. 3.
Irrespective of religious appeal and affiliations, consumers would be eventually attracted to Islamic finance if it positions itself to offer an efficient and competitive alternate avenue of financial intermediation which caters to all segments of population and economy and services retail and personal banking and project finance.