Shariah Compliant Finance
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The American International Group better known as AIG is a massive insurance company that was considered “too big to fail” during the 2008 U.S. Financial Crisis. The U.S. government decided that if AIG declared bankruptcy, it would trigger the bankruptcy of many other financial institutions that had conducted business with the insurance giant. Beginning in…
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The term “Islamic banking” refers to a system of banking or banking activity that is consistent with Islamic law (Shariah) principles and guided by Islamic economics. The Financial Times recently published an article regarding Islamic banking. The article portrays shariah compliant finance in our banking systems as ethical, however by western standards one would…
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