Say what you will but the truth is the Islamic Finance industry’s got a long way to go. The business section of the local press is abuzz with news of developments in the world of Islamic Banking. And while many papers are all too ready to jump on the Islamic-banking-is-the-future bandwagon, Kipp will be the first to admit that there are still a lot of challenges ahead of the sector.
But before we burst your bubble, if you are in the pro-Sharia camp, some good news: to begin with, there is the recent launch of a new Sharia-compliant repurchase facility, which will allow banks to borrow money in keeping with Sharia principles……………………………………….Full Article: Source