| From Thehindu.com: Since the inception of Islamic banking, about three decades ago, the number and reach of Islamic financial institutions worldwide has risen significantly, writes Brian Kettell in ‘Islamic Finance in a Nutshell’. Institutions offering Islamic financial services constitute a significant and growing share of the financial system in several countries, he adds.
“For example, the entire banking system of Iran is based on Islamic principles. Although Islamic banks are concentrated in the Middle East and South-east Asia, there are also niche players in Europe and the US.”.............................................Full Article: Source |