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Islamic economic experts ready to replace capitalistic system

Posted on 31 March 2009

From Thememriblog.org: Economic experts have asserted the importance of expanding the Islamic banking system and providing the necessary instruments to avoid future shocks that the global banking system has recently experienced.

A reference was made to a recent article in the Vatican official daily l’Osservatore Romano which recommended that the Western banks should adopt the Islamic banking financial instrument of sukuk [profit-sharing instruments rather than interest-bearing bonds] to expand the economy…..Full Article: Source

 
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