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High oil prices to hand Islamic finance a temporary lifeline

Posted on 10 June 2011

Strong oil prices will spark renewed interest in Islamic finance but the $1 trillion industry is unlikely to garner broad acceptance in the long term, eclipsed by the products and pricing offered by conventional banks.
With oil at over $100 a barrel, investors are expected to flock to Islamic finance in hopes of another Gulf petrodollar boom, similar to 2008 when record energy prices propelled the industry into the global spotlight. ……………………………………….Full Article: Source

 
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