Café Economique talk given by Bushra Merghani
When: Thursday 26th September 2013, 7:30-9:30pm
Where: City Gallery, 14a Long Row East, Oriel Chambers Courtyard NG1 2DH
Copy of talk: Islamic Banking
Does Islamic Banking offer a solution to the problems that have blighted western banks in recent times?
A growing number of Islamic, state-owned and private banks in Asia, Middle East and Africa are offering a range of ‘sharia-compliant’ financial products (business loans, mortgages and hire-purchase finance) without charging interest or up-front fees and are still making huge profits. Deposits into these banks have been growing at the rate of 30% per annum. Currently, it’s estimated that almost $200 billion transactions take place through these banks every year.
This talk by Bushra Merghani will discuss the benefits and limitations of Islamic banking and to what extent western banks can benefit from their experience.