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Islamic Finance Briefing - Categorized | Banking, Islamic Law / Economics more

Islamic values could control bank greed

Posted on 08 November 2010

From Eurekastreet.com.au: One way of getting the banks under control could be to study Islamic banking, which repudiates the principle of charging interest. Instead, under Sharia banking, the bank might enter into a partnership with the home buyer or small business owner, in which they share the profits.
Last year the Vatican’s semi-official newspaper L’Osservatore Romano urged Catholics to take a sympathetic look at Islamic banking: ‘The ethical principles on which Islamic finance is based may bring banks closer to their clients and to the true spirit which should mark every financial service.’………………………………………Full Article: Source

 
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