PM of Malaysia touts Islamic banking system

While delivering an address at the Oxford Centre for Islamic Studies in London, Malaysian Prime Minister Datuk Seri Najib Razak touted the benefits of Islamic banking on the international level.  Malaysia amounts for 60% of the world’s Islamic bonds, and is the world leader in Islamic banking.  The Prime Minister suggested that if all banks operated the way Islamic ones do, i.e. without overextending themselves on loans they cannot back up, that the global financial meltdown might not have occurred.  “In place of excess, Islamic finance offers moderation and transparency. In place of greed, Islamic finance offers fairness,” he said.

 



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While delivering an address at the Oxford Centre for Islamic Studies in London, Malaysian Prime Minister Datuk Seri Najib Razak touted the benefits of Islamic banking on the international level.  Malaysia amounts for 60% of the world’s Islamic bonds, and is the world leader in Islamic banking.  The Prime Minister suggested that if all banks operated the way Islamic ones do, i.e. without overextending themselves on loans they cannot back up, that the global financial meltdown might not have occurred.  “In place of excess, Islamic finance offers moderation and transparency. In place of greed, Islamic finance offers fairness,” he said....

While delivering an address at the Oxford Centre for Islamic Studies in London, Malaysian Prime Minister Datuk Seri Najib Razak touted the benefits of Islamic banking on the international level.  Malaysia amounts for 60% of the world’s Islamic bonds, and is the world leader in Islamic banking.  The Prime Minister suggested that if all banks operated the way Islamic ones do, i.e. without overextending themselves on loans they cannot back up, that the global financial meltdown might not have occurred.  “In place of excess, Islamic finance offers moderation and transparency. In place of greed, Islamic finance offers fairness,” he said.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Donation Total: $10.00

 

 

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