Tuesday, December 12, 2006

Islamic banking

Islamic banking in Egypt

"Accounts with a Conscience?", Business Today Egypt, December 12, 2006

Although Egypt's population is large and predominately Muslim, it does not have a significant Islamic banking industry. This article describes some of the historical reasons for this. Unfortunately, it does not fully look at what the impact the Al-Azhar fatwa allowing bank deposit interest (which has not been widely accepted) could have on the development of the Islamic banking system in Egypt.

Islamic banking

"Islamic banks see strong growth", Gulf News, December 12, 2006

An article looking at the current trends in Islamic banking and encouraging Islamic banks for focus on service and price, not simply Shari'ah-compliance. When looking at other aspects of Islamic banks, and the article does not address this, it seems imperative to look closely at the ethical implications of the banking activities, particularly the loan portfolio held by the banks.

No comments: