| From Knowledge@Wharton: On February 11, when Dubai Islamic Bank, the UAE’s largest Islamic bank, posted a profit of $327 million for 2009, it was a shot in the arm for those who have been preaching against the “greed” of the Western financial world and the advantages of Islamic banking.
Profits were lower than the previous year’s $471 million, but that was almost entirely because of provisions for doubtful debts. At a time when many institutions in Dubai seem to be drowning in debt, the bank’s balance sheet has shown surprising resilience...................................Full Article: Source
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