Led by the nose - follow the money.

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Led by the nose - follow the money.
« on: February 03, 2016, 09:33:47 PM »
Led by the nose - follow the money.


Burnside adds that in at least one UK bank, non-Muslim customers making use of Islamic savings products outnumber Muslim clients.

CIPFA has begun considering how local authorities and other public bodies could benefit from these trends. In October last year, the institute chaired a debate to explore the potential for public sector involvement in Islamic finance. Alan Edwards, CIPFA’s strategy and development director, said: ‘Islamic finance is a growing source of funding around the world. CIPFA is committed to ensuring UK local authorities and public bodies get the chance to explore all funding options. Islamic finance may become an ethical and reliable source of funding.’

The use of Islamic finance by local authorities and public bodies could create more flexibility in structuring debt and mitigating risk. Following the global economic crisis of 2008, many people and organisations in the UK fell heavily into debt, stocks tumbled and banks had to be bailed out. However, according to an International Monetary Fund analysis, financial institutions that complied with Islamic principles avoided much of the impact of the global economic crisis.   http://www.publicfinance.co.uk/feature/2015/05/tapping-islamic-finance


 
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