29.05.2009 - Prospect of Islamic Banking in ASEAN countries
From Ittefaq.com: Indonesia just hosted the third ASEAN annual meeting of sharia economic experts in Jakarta, raising the question as to where sharia banking is going and how to avoid the heady heights of high finance that brought down the Western banks. Or will shariah banking fly too high and make the same mistakes? Understandably Syafi Antonio, CEO of the Tazkia Group, wants sharia banking to go global. "To develop the sharia financial system, we have to go global. And for that we need to secure our transactions under sharia law". So the meeting discussed the idea of sharia-compliant currency exchange swaps, and the possibility of an Islamic single currency to back trade.......Full Article: Source