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Islamic Finance - A False Dawn

This article is written by brother Adnan Khan Open up the pages of any newspaper or Financial Magazine and you are guaranteed to find advertisements from banks announcing their latest Islamic finance products. Once perceived as a niche market, Islamic finance today is big business with both local and international banks keen to get in on the act. An increasing number of non-Muslims are adopting Islamic compliant products as awareness of the principles behind Shari'ah finance has grown. In 2008, at least $500 billion in assets around the world were managed in accordance with Shari'ah and the sector is growing at more than 10% per year. Asif Mumtaz, regional head of HSBC Amanah, HSBC's Islamic banking arm, says: "Within this region the Islamic finance industry is evolving from a niche segment to a mainstream one. "It is our informed opinion that within the next eight to 10 years, the industry will capture half of the savings of l.6 billion Muslims worldwide.&qu

Views on the News - 29/10/2009

BBC promotes hatred of Islam and draws record viewers British National Party leader Nick Griffin has used his Question Time on the BBC appearance to criticise Islam .He also told the audience that Winston Churchill would be a BNP supporter if he were alive, and insisted: "I am not a Nazi". He was asked by a member of the audience about why he had described Islam as a "wicked and vicious faith". Mr Griffin said the religion had its "good points... it wouldn't have let the banks run riot" but it did not fit in with "the fundamental values of British society, free speech, democracy and equal rights for women "More than eight million people watched the show, triple its typical audience. At its peak, 8.2 million people tuned into the BBC1 show. Australian MP calls for a debate to curb Muslim immigration Member of Parliament Kevin Andrews on Thursday called for a national debate on whether Muslim immigration to Australia should be curbed. And