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Wow .. Islamic Banking Potentially up to 4 Trillion U.S. Dollars

Written by Cabbare on September 7, 2009.

Interest in Islamic banking Islamic banking alias increased. This concern not only among Muslims, but also come from the Western world, that in fact embahnya conventional banking.

Membeludaknya interest in Islamic banking to the growing academic courses on Islamic finance.

Ranking according to Moody’s rating, the value of the global Islamic financial sector has now reached 700 billion U.S. dollars, and has the potential to grow to 4 trillion U.S. dollars.

Islamic banking is considered an alternative more robust than conventional banking. This is an impact on educational institutions which began offering formal training in this field.

“Right now there is a huge demand for Islamic finance course, very large, making it difficult to meet,” called Professor Habib Ahmed, Sharjah Chair in the School of Government and International Affairs at Durham University in England, told CNN.

Durham will open a masters degree in Islamic banking began in October was to become one of Europe’s educational institutions that offer Islamic finance programs. “Some of this time, Islamic banking has grown between 15 to 20 percent per year, and it sucked a lot of attention. The people looking for alternatives after the economic crisis,” Ahmed said.

“The Islamic economists believe that if the principles of Islamic finance is followed, there will be a crisis. We saw a lot of non-Muslim countries, including England, France, Japan, Hong Kong, and Singapore are encouraging Islamic finance,” he added.

According to a shariah banking scholars, Aly Khorshid, a fundamental difference between Islamic banking and conventional banking is Islamic banking does not charge interest. More than just borrowers and lenders, this system is based on the buyer and seller.

“Conventional banking has been biased to the seller. The Islamic banking to try to align the two sides,” the writer in a magazine called Islamic Banking and Finance this to CNN.

“People think the Islamic system based on trust, but on justice. The system is based on the fairness of both parties and how you get justice from Islamic values,” he added.

In the West, several banks including Lloyds TSB, HSBC, Deutsche Bank, and Citibank to offer Islamic banking products to attract Muslim customers.

What about Indonesia? Ready?

User's Comment

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  2. Waylon Salway | July 25th, 2010

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