The Islamic Finance and the Financial Crisis

I spoke in the Islamic finance forum in Dubai in April 2009. My paper reviewed the reasons for the crisis and how such an event would not take place if the financial sector was following the Sharia rules and AAOIFI standards. The paper, nevertheless, has argued the sufficiency of the Islamic finance standards in sustaining the so called crisis-free economy, and has highlighted some issues that shall be considered in the post-crisis future debates.

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