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Does Islamic finance have a place in Canada?

Posted on 24 January 2012

Tarek FatahAround $900 billion in assets across the globe are managed by Islamic banks that operate according to sharia, an interpretation of Islamic law. In recent years, so-called Islamic finance has been growing at a rate of 15-20 per cent a year, and proved remarkably resilient to the financial crisis.
Proponents of the relatively new sector point to its back-to-basics financial structures, which have made it popular with a number of non-Mulsim clients who have little appetite for risk. Critics, though, say the restrictions it comes with–prohibitions, for example, on paying interest and investing in anything that involves porn, pork or booze–are archaic and unworkable………………………………………..Full Article: Source

 
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