Islamic Banking - Growth and Prospects

Moslem Banking - Growth and Prospects Print Email Last Updated: 20 November 2008 The Moslem finance industry is soon expected to direct for 4 per penny of the global economy. [AFP] The Moslem banking industry is nowadays worth almost an estimated US$1 trillion and is astray considered to be one of the fastest growing sectors in the terra firma of finance. Even in the midst of a global endanger crisis, Moslem banks have weathered the storm to great effect, fill to strict regulations administered by Muslim rectitude, or Sharia. Industry experts highlighted the growing of an emerging force in global finance during the Asialink Islamic Banking Colloquium held recently in Melbourne. Listen: Islamic Banking 1 Islamic Banking 2 Imagine a bank that embarks in federation and sh bes adventure with customers - a bank that does not charge interest, and uses with child(p) derived from deposits and benefit to engage in ethical investment such(prenomi nal) as education and infrastructure development. It may sound Utopian, save these atomic number 18 just some aspects of Islamic banking, founded on the principles of Islamic law or Sharia.

What is more peculiar, though not surprising, is that during a clip when the worlds largest banks and financial institutions, have either collapsed or in ask of multi-billion dollar government funded bailouts, Islamic financial institutions are property their ground well, although not completely immune to todays crisis. disdain this, the Islamic banking industry is expecting growth rates of 15 per cent annually. Economist, bankers and academics were on hand to foreshadow the state of Islamic banking in a global context, during ! the recent Asialink Islamic Banking Colloquium in Melbourne - and the learning ability is a positive one. The rising demand for Sharia manageable investments air an estimated 1.6 billion Muslims worldwide and Islamic as put ups are set to mark $US1.4 trillion by 2010, said lawyer, Mohamed Ridza, a tether consultant on Islamic...If you want to get a broad(a) essay, roll it on our website: OrderEssay.net

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