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Islamic finance, occupy protests and public good

Posted on 06 February 2012

The essence of Islamic finance is about “risk sharing over risk transfer”, as it implies a financial and economic system of checks and balances. It implies an “ethical” financial intermediation linked to the real economy for “moral” value-added output. It implies modalities of contracts whose foundations are based on transparency, where asymmetric information is minimised to prevent abuses against the weaker counter-party.
Furthermore, Islamic finance is about financial inclusion paving the path for distributive wealth and income, and ensuing economic opportunities. Finally, it’s all about business and not religion, and it about profits but against profiteering………………………………………Full Article: Source

 
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Laxman - who has written 19163 posts on Opalesque Islamic Finance Briefing.


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