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An Introduction to Islamic Banking

 
It may come as a surprise but Islamic finance products have been active in the global marketplace for some time. Richard Iferenta John Bain and Kelly Eland of KPMG provide an introduction to Islamic banking
 
The incidence of Islamic financial products began to increase in western economies in the mid-to-late 1990s but faced a setback after the events of 9/11. The sector is now hitting its stride again no doubt largely due to increased oil and gas revenues from the Middle East and a friendly EU business environment.
 
Islamic finance is clearly gathering pace in the UK and many banks — both retail and investment — are now offering a variety of financial instruments including insurance products. Indeed in September 2004 the UK's first fully Sharia'a-compliant bank...

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