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Islamic Finance Essay

September 3rd, 2009 No comments

Islamic financial institutions now operate in over 75 countries. Their assets have increased more than 40-fold since 1982 to exceed $230 billion.

The first Islamic banks were created in the 1970s, at the time when the “aggiornamento” of Islamic doctrine on banking matters was taking shape. At the time, Islamic banks were typically commercial banks operating on an interest-free basis. Today, as a consequence of broad changes in the political-economic … Read the rest