25.10.2010 - Has Islamic banking outgrown Islam?
From Smartmoney.com: Assets at Islamic banks in major Muslim markets like Saudi Arabia and the United Arab Emirates swelled 32% from 2007 to 2009, versus 13% for conventional banks in the same markets, according to a September paper by the International Monetary Fund. In the U.S., more than a dozen companies offer primarily Shariah-compliant banking products. For most large Islamic banks, however, at least three-quarters of -- and in some cases nearly all -- transactions are Islamic in name only, according to a new study. In practice they closely resemble the conventional bank products that are off limits to devout members of the faith..............................................Full Article: Source
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