Thursday, February 12, 2009

Islamic Banks More Resilient

ZAWYA:Islamic finance has proven to be more resilience to the world's economic crisis as London consolidates its position as a key western center, according to a financial services organization.

In a new report, the International Financial Services London (IFSL) found that Islamic banks had been "less affected than many conventional banks as they are prohibited from activities that have contributed to the credit crunch, such as investment in toxic assets and dependence on wholesale funds"...Continue Reading

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