Thursday, November 22

Private Equity and Islamic Banking!

A very interesting report on PE and islamic banking. I quote:

Core basic tenets of Islamic finance that Sharia' scholars draw upon:

  • If something is immoral, one cannot profit from it
  • To share reward, one must also share risk
  • One cannot sell what he or she does not own
  • In any transaction, one must clearly specify what he or she is buying or selling and one price is being paid

All this to be taken with a grain of piquant salt!!!

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