The Scotsman publishes an article that promotes Shariah Banking as if it is the answer to the ills of our current crisis. This is taqiyya and propaganda and one must read this and read between the lines.
Islamic finance shows banks the way forward
dequately capitalised from regulators’ perspective, nonetheless the market lost confidence in the bank and its share price plummeted.
It is of no surprise to see concerned leaders around the world address the issue of how to prevent such a disastrous situation happening again. Perhaps Islamic finance presents a solution.
Islamic finance has seen astounding growth with two new Islamic banks and a takaful (Islamic insurance) firm receiving authorisation in the UK.
Islamic finance is an industry based on principles of equity and financial justice.
Would such a banking catastrophe have occurred if Islamic finance principles had been followed? The answer is almost certainly no.