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Islamic finance: Hub or hubris?

Posted on 08 April 2010

From Euromoney.com: Shariah banking is becoming big business in Southeast Asia, with Kuala Lumpur and Jakarta battling for the title of regional Islamic finance centre. But even the most optimistic bankers fear further expansion could be stymied by arcane regulation and lack of cross-border consensus.
If Lehman Brothers was an Islamic bank, it would not have collapsed, because “making money from money” is haram, forbidden under Islam, so its sub-prime derivatives drama would not have happened………………………………………..Full Article: Source

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


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