posted by Christopher W Holton

No example of how Shariah Finance is failing can be more significant than its failure to catch on in the Arab world’s most populous nation, Egypt.

Not only is Egypt the most populous Arab nation, but it is also home to Al Azhar, Sunni Islam’s most prestigious university, dedicated to studying the Quran and Islamic law (Shariah).

Despite all this, the Egyptian Association for Islamic Funding reports that Shariah banking makes up merely 6% of total transactions of banks working in Egypt today.

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