Islamic Banking and Finance

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? Read on ...