A year ago we wrote a post about the seemingly unstoppable growth of Islamic finance while Western bankers and investors were entangled in the worst financial mess since the Great Depression. But the recent debt crisis in Dubai has caused many people to wonder whether the phenomenal growth in Islamic finance is a “mirage in the desert” after all. For me, the trouble in Dubai is another example of challenges faced by any socially responsible investment, Islamic or not. Continue reading
Forbes reported this year that $500 billion in assets are managed according to Sharia, the laws that govern Muslims’ daily life, and the sector is growing. Trends like ethical banking, global Islamic bonds, and Muslim mortgages are attracting attention everywhere from Britain to Malaysia.