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Islamic banks unscathed by global crisis: Al-Aboodi

Posted on 22 December 2008

From Arabnews.com: Islamic banks are the least affected by the current global financial crisis triggered by subprime tsunami in the United States, the CEO & general manager of Islamic Corporation for the Development of the Private Sector (ICD) said.

Khaled Al-Aboodi said, “Islamic banks are Shariah-compliant and Shariah does not allow them to invest in subprime products as compared to conventional banks.” …. Full Article: Source

 
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