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Egypt: New prospects for Islamic finance

Posted on 03 May 2011

Although Egypt is considered the birthplace of Islamic finance, which adheres to Islamic principles banning interest and speculative trading, its growth has lagged due to past corruption scandals, while the previous government sought to enforce a more secular financial system.
But after the Egyptian revolution toppled Hosni Mubarak and his government, Muslims are embracing Islamic banking, raising the prospect that Egypt could become a thriving center of Islamic finance……………………………………….Full Article: Source

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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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