17.07.2009 - Islamic finance stands strong in hard times
From globalarabnetwork.com: While Islamic banks have not been immune to the effects of the global financial crisis, they are less exposed. It has been a tumultuous year for conventional banking, where an over-exposure to debt has contributed to recessions in the world’s largest and hitherto most stable economies. The Islamic finance industry is also feeling the pinch, but the long-term prospects are not bad, particularly if it uses this opportunity to promote what distinguishes it from conventional banking, namely that interest rates (riba) and speculation are prohibited..........Full Article: Source