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Islamic banking between traditionalism and innovation

Posted on 23 August 2010

From Aawsat.com: The Islamic banking industry’s bias towards traditional sectors, particularly real estate, together with a lack of diversification in its financing and investment instruments has negatively impacted on the speed of this industry’s recovery from the after-effects of the global financial crisis.
This is unlike the conventional banking industry, where many institutions have begun to make profits once more a manner that defied expectations. Therefore, the Islamic banking industry must put aside traditionalism and pursue innovation with regards to its financial instruments and products. It should adopt and finance creative projects, for projects such as these make good profits while also being in line with the noble purposes of Islamic Sharia…………………………………….Full Article: Source

 
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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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