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Islamic banks also responsible for global financial crisis: Experts

Posted on 06 March 2009

From Khaleejtimes.com: Islamic banks must share equal responsibility with conventional commercial banks and financial institutions for the current global financial crisis, a professor specialising in Islamic economics said on Thursday.

Islamic banks did not provide true Islamic banking products. Instead, they gave an Islamic name to products of the commercial banks to attract clients who did not want to deal in interest, explained Professor Mahmoud El Gamal, the Chair of Islamic Economics, Finance and Management at Rice University in Houston, Texas, US. …. Full Article: Source

 
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