Monday, June 20, 2005

Islamic economics, "Islam & Mammon" by Timur Kuran :: Dynamist
Do Islamic banks want a universal ban on interest by any bank?

Islamic banks are enjoying the profitability of their niche; they have customers willing to pay a premium in order to do Islamic banking. The profits of these banks would be eroded if more banks offered Islamic financial products. Are Islamic banks lead by idealists who desire all banking to be Islamic, or is an Islamic bank just as likely as a conventional bank to be motivated by profit?


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