Islamic Banking and Finance: Future of the Financial World Order

Future belongs to Islamic Banking and Finance (IBF), if one is ready to take a cue from the subprime crisis, Lehman brothers and many other giants vanishing from the financial landscape, global economic melt-down, impending double-dip recession, trillions of dollars belonging to 99% common men pumped (in the name of bailouts) by governments into the coffers of behemoth corporations (1%), and subsequent Occupy Wall Street movement. The question is, does IBF provide a better solution? IBF has already proven to be a formidable claimant to be the future of banking and finance, with 400% growth booked during last 7 years, amid severest of recessionary pressures. IBF promises to internalize ethics into business, remove the gamble of greed leading to ever-rising debt burden, and gift the inhabitants of this earth a financial world order founded on real assets and rock-solid humanitarian values of fairness & distributive justice. By replacing interest with shared risk & profit, delivering real output, not worthless paper, IBF nurtures a system that delivers public good, not ravenous self-indulgence. Are they keeping the promises? Is IBF ephemeral? How can it become sustainable? Read on ...

Autorentext

He has contributed 27 years to the project management industry as a professional, without compromising the pursuit of academic excellence propelled by his MBA gold medal. As freelance academician, he published papers in refereed journals and conference proceedings, developed study materials, guided students, and trained professionals in many areas.