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British embassy, Muslim banker tackle merits of Islamic banking

Posted on 09 March 2012

The global financial crisis that weakened US and European economies actually presented emerging markets, like the Philippines, an opportunity to take a shot at $1trillion worth of Shariah-compliant assets, an Islamic banking expert and a British official said Thursday.
The way to tap into such a wealth of fund is to relax the tax and regulatory system by putting Islamic banking in the mainstream, they said. The perception that Islamic banks are a conduit financial instrument of terrorist groups is an obstacle to the entry of investments and their accompanying growth, the experts noted………………………………………..Full Article: Source

 
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