| Islamic finance and banking will win |
| Written by Paul Williams | |
Friday, 26 September 2008
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BDO Stoy Hayward says financial turmoil puts Islamic products in strong position.With the financial markets in the most volatile state since the 1930s, and the London Stock Exchange experiencing more highs and lows than a rollercoaster ride, increasing numbers of individuals and corporations will now invest in Islamic banking and Sharia compliant products than ever before, predicts accountants and financial advisers BDO Stoy Hayward.
According to the financial advisers Islamic banks are one of the few financial institutions who still have significant sums of money available to finance individuals and corporates, unlike their western banking counterparts, who will only continue to constrict their lending policies in light of the current economic crisis.Dan Taylor, Head of Banking at BDO Stoy Hayward, says: “As the risk profile of Islamic Banks is generally lower than conventional western banks, this presents a more solid option for both retail and institutional investors and suggests that dealings with Islamic financial institutions will grow dramatically as people switch to more secure products in this environment.”continue reading at……………
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