An Open Letter To the King of Saudi Arabia, The Prime Minister of Turkey and the President of Indonesia on their attendance at the G20 Leaders Summit in London on 2 April 2009 Since 1999, the G20 has been at the forefront of designing the financial architecture that has now crumbled before our very eyes. It has been complicit in the financial and economic policies that has fostered the worst international economic crisis since the great depression. It not only averted its gaze while financiers ran … [Read more...]
The End of Prosperity: Can Islamic Finance Help?
January 23, 2009 By
By Mahomed Shoaib Omar (Specialist Corporate & Islamic Finance Attorney) from Albalagh.netThe meltdown of the global financial system has raised profound questions of its fundamental structural reform. The downward spiral in the US and Western Europe is described by financial experts as deleveraging : the forced reduction of accumulated debt by households and financial institutions. As more assets get dumped into the market, prices are driven down further, which in turn necessitates more deleveraging. … [Read more...]
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