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Islamic Finance Briefing - Categorized | Banking, Emerging Trends more

Has Islamic banking outgrown Islam?

Posted on 25 October 2010

From Smartmoney.com: Assets at Islamic banks in major Muslim markets like Saudi Arabia and the United Arab Emirates swelled 32% from 2007 to 2009, versus 13% for conventional banks in the same markets, according to a September paper by the International Monetary Fund. In the U.S., more than a dozen companies offer primarily Shariah-compliant banking products.
For most large Islamic banks, however, at least three-quarters of — and in some cases nearly all — transactions are Islamic in name only, according to a new study. In practice they closely resemble the conventional bank products that are off limits to devout members of the faith……………………………………….Full Article: Source

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


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