Islamic finance is based on the concept of sharing risk and so encourages a long-term approach to business deals. Many aspects of traditional Western finance will be reviewed in the wake of the credit crisis and without doubt, the short-term thinking behind many deals will be one. In this, Islamic finance may have lessons for us all. This month, The Banker publishes its second ranking of the Top 500 Islamic institutions (see supplement) and in attempting to quantify this fast-growing sector - sharia-compliant assets have jumped 27.6% since last year - we believe we are doing trailblazing work.
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