|From Jordantimes.com: A majority of pundits see little to no adverse effect of the global financial crisis on Islamic banks. One would think that Islamic banks are poised to surge as leaders in the global banking industry. This would only be true, however, if Islamic banks and the regulatory authorities seized the day and better marketed Islamic banking services.
Islamic banks are based on Sharia, the body of Islamic law. They share common traits: do not charge interest, instead they share in the venture as partners, consequently they are bearers of risk; deal basically in goods and services such as real estate and commodities; avoid ventures that are prohibited by Islamic doctrine; rely on their own deposits to finance their partnerships with the “borrowers”.....Full Article: Source