Putting Lipstick on a Pig: Bahrain-based Shariah-compliant International Investment Bank (IIB)
On March 13, 2010 · In Bahrain, Economic Crisis, Islamic Banking, Shariah Banking
Note how the experience of IIB flies in the face of all the claims from the financial jihadists that they offer safe haven from economic and financial crisis…
Last year was a difficult year for the world economy and financial markets, and global financial crisis hit Bahrain-based Shariah-compliant International Investment Bank (IIB) also as it suffered first loss in its six-year history.
The globally focused IIB yesterday announced its results for last year. It incurred a net loss of $27.9 million compared to a net profit of $13.5m in 2008.