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Islamic finance more than a blip on West’s radar

Posted on 19 February 2010

From Business24-7.ae: As the world’s financial systems found themselves struggling through another challenging year in 2009, Islamic finance reached a new landmark. By year end, the steadily growing sector saw a cumulative total sukuk issuance reaching $100 billion (Dh367.3bn). In 2009, assets of the top 500 Islamic banks grew by 28.6 per cent to $822bn, up from $639bn in 2008.

Many Islamic financial institutions appear to have been insulated from the global financial crisis, largely due to the Islamic finance principles that prohibit interest………………………………….Full Article: Source

 
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