04.03.2013 - Dubai can become Islamic finance hub
In the wake of the global economic crisis, investors are looking for well-governed financial products and centres to safely put their money. In many ways this is behind the growing international appeal for Islamic financial products, like sukuk (islamic bonds). Islamic finance refers to economic practices that comply with Sharia, which generally prohibits interest, short-selling and certain forms of financial trading. It was this type of opaque, even fraudulent, financial transactions driven by a desire for short-term, unsustainable profits that were at the root of the global financial crisis. As a result, investors are turning to products that are well-governed and run to the highest ethical standards...............................................Full Article: Source
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