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Does Islamic finance have a responsibility to reduce unemployment

Posted on 23 October 2012

There is a buzz about the prospects for Islamic finance in parts of the Middle East and North Africa region (MENA). News reports are suggesting that as a consequence of change in public policy, the market share of Islamic banking in Egypt will grow to “35 per cent in five years from 5 per cent now”.
Much attention in Islamic finance circles is also falling on the relatively smaller markets, such as Oman and Morocco. Observers, such as researchers from Credit Suisse, are also pointing to Islamic finance as a potential source of spurring economic growth in the Arab Spring countries. A question arising out of all this buzz is this: Will the rise of Islamic finance address the problem of high unemployment among the Arab youth?……………………………………….Full Article: Source

 
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