From Business24-7.ae: Islamic finance is experiencing a resurgence in the Arab World as a result of the recession, according to Alex MacGillivray, Senior Partner at AccountAbility, one of the co-authors of a new report titled Responsible Competitiveness in the Arab World 2009.

There is a new buzz in the Arab World about Islamic finance, which tended to have a reputation of being “nice” yet offering “lower returns”, he says. Today, argues MacGillivray, Islamic finance is being viewed as a safer and better bet for investors than the “Western casino style” of financial investment…….Full Article: Source