According to Deputy Finance Minister Datuk Dr Awang Adek Hussin, the Shariah compliant Islamic Finance is a viable alternative financial system for curbing excessive leverage as well as delinking financial intermediation from the real economy.
Awang Adek’s speech highlighted the importance of Islamic banking to further bankroll the real economy, and how the growing interest in Islamic finance as a force of moderation is receiving global attention. His view was seconded by Yoshihiro Watanabe, one of the three Japanese members of the APEC Business Advisory Council (ABAC), whose membership came from the direct nomination of the Japanese Prime Minister. Watanabe affirmed the importance of Islamic Finance completely, given the emphasis on ‘real economy’ as the ethical underpinning………………………………………..Full Article: Source