In its third year, World Islamic Retail Banking Conference has created an excellent networking platform for the Global Islamic Retail Bankers. The global financial crisis has intensified the push for Islamic finance to ‘return to its roots’ and shun conventional banking. It is time for innovation. At first, it encourages to be modest and do not go beyond one’s means, so it does not encourage sub prime lending behaviour, discouraging providing credit to non creditworthy borrowers and preventing banks going after those for fees and commissions. Awaken the spirit of Islamic finance by imbibing its pro-equity stance, this would stem proliferation of debt in the market.
Previous
