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Kyrgyzstan: Banking on the Islamic system

Posted on 12 May 2009

From Gulf-times.com: After watching the international financial system teeter on the brink of collapse in recent years, lawmakers in Kyrgyzstan have agreed to allow local banks to apply the principles of Islamic finances.

Supporters say the move will provide the country with a viable alternative to the Western banking model and help protect Kyrgyzstan during these uncertain economic times…….Full Article: Source

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


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