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Islamic financial system can bails out sick economies, claims Pak economist

Posted on 23 April 2010

From Pakobserver.net: The Pakistan Economy Watch (PEW) on Thursday said properly developed Islamic financial system can reduce miseries of humanity by bailing out ailing economies. The fast-growing Islamic finance industry (IFI) has potential to contain unemployment and boost economies if an efficient and effective monitoring mechanism is in place.
This will also help boost confidence of masses. Integral mechanism of IFI has successfully sustained the impact of credit crunch and global financial meltdown which has made it popular across the globe, said Dr. Murtaza Mughal, President PEW………………………………………Full Article: Source

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