During the past four decades Islamic financial institutions have evolved from mere concepts into fully fledged realities. And in recent years there has been a new dynamism as this fledgling financial industry has proved increasingly attractive, not only to the world's 1.6 billion Muslims but also to many others who are beginning to understand the unique aspects of Islamic finance. While the credit crunch creates turmoil throughout the global banking industry, the impact of certain risks and risk management strategies have been highlighted. The effects of taking excessive risks have led to horrendous banking losses for many and have also emphasised the different philosophical approaches between Islamic and traditional or conventional Western finance.
展开▼
