15.06.2009 - Forbidden toxic assets shield Islamic banks from crisis
From Pakobserver.net: The Islamic finance industry has been relatively, although not completely, immune to the effects of US subprime problems, the ensuing credit crisis and global economic downturn. I have not found any Islamic bank that has lost money by exposure to toxic assets - because they were forbidden, says Humayon Dar, chief executive of BMB Islamic, one of the biggest managers of alternative investments for Muslims. Indonesia easily raised $650 million (Dh2,386 million) recently with the first global dollar-denominated sukuk of the year.........Full Article: Source
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