From Businessweek.com: Islamic banking executives have a proposal for their bonus-addled Western counterparts: Take a look at our model. Beyond interest-free banking — a prospect that would likely win few proponents in London or New York — executives from the world of Islamic finance argued at a conference Tuesday that world markets weary of excessive risk and wealth imbalances should welcome ethical standards of investment based on religious tenents of fairness and transparency.

But they warned that the industry also needed to get its own house in order, by streamlining existing fragmented regulation and coming up with new products……………………………………Full Article: Source