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Hussam has been a lifelong human rights activist who is passionate about promoting democratic societies, in the US and worldwide, in which all people, including immigrants, workers, minorities, and the poor enjoy freedom, justice, economic justice, respect, and equality. Mr. Ayloush frequently lectures on Islam, media relations, civil rights, hate crimes and international affairs. He has consistently appeared in local, national, and international media. Full biography at: http://hussamayloush.blogspot.com/2006/08/biography-of-hussam-ayloush.html

Thursday, August 27, 2009

Recession sparks interest in Islamic finance

By Mark Tutton
For CNN

LONDON, England (CNN) -- With irresponsible banking practices taking the blame for bringing about the global economic crisis, there has been a surge of interest in Islamic finance.

Islamic finance is estimated to be worth $700 billion and has been growing by 15 to 20 percent per year.

Islamic finance is estimated to be worth $700 billion and has been growing by 15 to 20 percent per year.

Now, a slew of academic courses are springing up to meet the demand of those wanting to break into an expanding market.

According to ratings agency Moody's, the global Islamic finance sector is worth $700 billion and has the potential to be worth $4 trillion.

What's more, the ethical principles underpinning Islamic finance are seen by some as offering a more sustainable alternative to profit-oriented conventional banking. The result is that academic institutions are lining up to offer formal training in the area.

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