Monday, March 02, 2009

Islamic Finance Laughing All The Way To The Bank

"Islamic financial institutions, he said, had not been hit as hard as their western counterparts because they did not invest in toxic assets.

Banks run in accordance with Muslims laws on interest payments and the sharing of credit risks are seen by many as fairer than traditional banks, less focused on profit and kinder to the communities they work in."

One can't help but laugh at a world that consistently insults the Islam as a backward religion and savage culture and then takes a lesson from that same tradition in the form of finance. Let's not forget that modern mathematics, chemistry, physics, biology, and medicine were all revolutionized by the Muslim world when the West was just poking around in the dirt. Muslims may have their fair share amount of problems but we still have things to contribute to those who wish to listen.

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1 comment:

Marmoulak said...

The contributions of the Muslims led to the renaissance and scientific revolutions in Europe.
That is in no one's high school science curriculum.