09.11.2010 - Islamic banking in modern times
From Persfin.co.za: Until the late 20th century there was no institutionalised Islamic banking, but two pioneering social projects in interest-free finance in the 1960s in Egypt and Malaysia paved the way. In Egypt, the Mit Ghamr savings project was aimed at providing people with a simple savings vehicle and interest-free loans. It enjoyed unexpected success but was abandoned due to political factors..............................................Full Article: Source
Print