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Mask for corruption

Reader comment on item: Islamic Economics: What Does It Mean?

Submitted by Vijay (United Kingdom), Sep 26, 2007 at 14:15

Many 'Islamic banks' in the Middle east have folded up due to the incompetence and financial irregularities of it's backers and directors. In the early 1990s BBCI which was the brainchild of a Pakistani who used to sput Islamic nonsense went under leaving depositors with nothing. BCCI was called the one-stop shop for all kinds of criminals.

In fact the 'Islamic money' handled by western banks is far more than that handled by Muslim countries simply because Muslims themselves don't trust the fiduciary integrity of their co-religionists.

Submitting....

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Note: Opinions expressed in comments are those of the authors alone and not necessarily those of Daniel Pipes. Original writing only, please. Comments are screened and in some cases edited before posting. Reasoned disagreement is welcome but not comments that are scurrilous, off-topic, commercial, disparaging religions, or otherwise inappropriate. For complete regulations, see the "Guidelines for Reader Comments".

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