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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.


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