23.07.2012 - Sharia-friendly banking boost
Despite a growing interest in Islamic banking, several obstacles lie in the path of its development. With President Mohamed Mursi, a former member of the Muslim Brotherhood, in office, Islamic banking is expected to grow rapidly and acquire a larger market share, competing with its conventional counterpart. Islamic banking refers to a financial system that is consistent with the principles of Islamic Sharia law, which prohibits interest through lending, gambling and investing in businesses that are related to goods or services considered against Islamic principles, like alcohol and tobacco...............................................Full Article: Source
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