ECONOMIC SYSTEM

Can Islamic finance provide salvation for the banking sector? by Jikon Lai

  Islamic finance has grown and expanded rapidly in recent years. It was recently announced that, following in the footsteps of some of its European neighbours, Germany will soon have its first Islamic bank — which is ironic if you think about the history of the country. Ireland, a country of arguably staunch Catholics, is alsomaking a bid to be a global hub for Islamic …

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Cameron unveils Islamic bond plan – bbc.co.uk/

Prime Minister David Cameron has announced that the UK will become the first non-Muslim country to issue an Islamic bond. At the World Islamic Economic Forum (WIEF) in London, he also announced plans for a new Islamic index on the London Stock Exchange. It is intended to attract more Islamic investors by making it clearer which companies match their criteria. …

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‘Islamic banking is not for Muslims alone’ Faizy SYED

Although the word ‘Islamic’ refers to beliefs specifically related to Muslims, it is a different case altogether with Islamic banking and finance. It is a sophisticated banking and finance structure based on moral and social values, which is compatible with the modern day financing needs, and hence, is receiving overwhelming response from Muslims and non-Muslims alike. Islamic banking Sometime ago, …

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