Leading independent research and advisory firm IDC Financial Insights says, tough numerous shariah scholars and economists initially believed that Islamic finance had fared significantly better in the crisis due to its rigorous risk management practices and its adherence to shariah law, IDC’s Financial Insights Asia/Pacific latest report entitled “Islamic Finance Update – Weathering the Crisis” finds otherwise.
While the Islamic financial system may have been spared the direct impact of the subprime fallout, the indirect impact clearly affected the performance of shariah financial products and services……..Full Press Release: Source