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Islamic finance stands strong in hard times

Posted on 17 July 2009

From globalarabnetwork.com: While Islamic banks have not been immune to the effects of the global financial crisis, they are less exposed. It has been a tumultuous year for conventional banking, where an over-exposure to debt has contributed to recessions in the world’s largest and hitherto most stable economies.

The Islamic finance industry is also feeling the pinch, but the long-term prospects are not bad, particularly if it uses this opportunity to promote what distinguishes it from conventional banking, namely that interest rates (riba) and speculation are prohibited……….Full Article: Source

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


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