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Islamic Finance Briefing - Categorized | Banking, Market Moves more

Islamic banking (sharia) is not the answer

Posted on 18 December 2008

From Creepingsharia: If “cash is king,” then Middle East coffers are irresistibly enticing. During a recent tour of Saudi Arabia and the Gulf states, Deputy Treasury Secretary Robert Kimmitt applauded the “growing role” of Arab banks in the U.S. economy.

Treasury is seeking buyers for its newly acquired bailout assets because more than $1 trillion in cash is urgently needed to rescue the largest U.S. banks….. Full Article: Source

 
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