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**V8V8V8** · 03-14-2012, 10:56 PM

Islamic Banking and Finance: Future of the Financial World Order

Shakeel Ahamad , H. K. Pradhan

Future belongs to Islamic Banking and Finance (IBF), if one is ready to take a cue from the subprime crisis, Lehman brothers and many other giants vanishing from the financial landscape, global economic melt-down, impending double-dip recession, trillions of dollars belonging to 99% common men pumped (in the name of bailouts) by governments into the coffers of behemoth corporations (1%), and subsequent Occupy Wall Street movement. The question is, does IBF provide a better solution? IBF has already proven to be a formidable claimant to be the future of banking and finance, with 400% growth booked during last 7 years, amid severest of recessionary pressures. IBF promises to internalize ethics into business, remove the gamble of greed leading to ever-rising debt burden, and gift the inhabitants of this earth a financial world order founded on real assets and rock-solid humanitarian values of fairness & distributive justice. By replacing interest with shared risk & profit, delivering real output, not worthless paper, IBF nurtures a system that delivers public good, not ravenous self-indulgence. Are they keeping the promises? Is IBF ephemeral? How can it become sustainable?

03-14-2012, 10:56 PM	#34
V8V8V8 Join Date Oct 2005 Posts 603 Senior Member	Islamic Banking and Finance: Future of the Financial World Order Shakeel Ahamad , H. K. Pradhan Future belongs to Islamic Banking and Finance (IBF), if one is ready to take a cue from the subprime crisis, Lehman brothers and many other giants vanishing from the financial landscape, global economic melt-down, impending double-dip recession, trillions of dollars belonging to 99% common men pumped (in the name of bailouts) by governments into the coffers of behemoth corporations (1%), and subsequent Occupy Wall Street movement. The question is, does IBF provide a better solution? IBF has already proven to be a formidable claimant to be the future of banking and finance, with 400% growth booked during last 7 years, amid severest of recessionary pressures. IBF promises to internalize ethics into business, remove the gamble of greed leading to ever-rising debt burden, and gift the inhabitants of this earth a financial world order founded on real assets and rock-solid humanitarian values of fairness & distributive justice. By replacing interest with shared risk & profit, delivering real output, not worthless paper, IBF nurtures a system that delivers public good, not ravenous self-indulgence. Are they keeping the promises? Is IBF ephemeral? How can it become sustainable?
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