12.03.2013 - London to bolster Islamic finance credentials

The UK government has set up an “Islamic finance task force” to reinforce London’s position as the dominant western hub for this niche but fast-growing part of the financial system. Islamic finance replicates many of the products and services of conventional banks and asset managers but avoids areas prohibited to Muslims – particularly interest – and encourages the use of “real” assets to underlie most transactions...............................................Full Article: Source

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