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Lessons from Islamic Banking

Posted on 24/06/2009
University of Leicester

If Western banks had been operating on a similar system to Islamic Banks, would the global recession have been avoided? Would an Islamic Insurance system have been more robust and less prone to the issues that led to the collapse of the world major insurance companies? In short, are there lessons for western banks from Islamic Banks?

From its beginnings as a collapse in the sub-prime housing market to a major global crisis, the impact of the current calamity is clear, but developing new practices which can address the issues that led the world to the brink of collapse are a vital part of recovery.

In order to address this fundamental question