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Islamic finance linked to Saudi resilience during global slump

Posted on 24 January 2012

Prince Turki Al-FaisalThe culture of Islamic finance contributed mainly to maintain Saudi resilience in the face of global economic downturn, Prince Turki Al-Faisal, chairman of King Faisal Center for Research and Islamic Studies, said.
“Saudi Arabia’s success and resilience in the current global economic downturn was due in large part to the Kingdom’s culture of Islamic finance — most notably Islam’s insistence on debt being tied to real equity and real assets,” said Prince Turki,recalling that there was a genuine connection between risk and reward that forced participants to maintain reasonable levels of leverage………………………………………..Full Article: Source

 
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