This article shows the Shariah Compliant Finance is not the answer to the credit crisis we are in. Many banks are trying to sell this concept as a panacea to the issues we are facing today. Clearly, there is no magic bullet to solve this crisis, other than good investments, energy independence, and transparency.

 

 A new Standard and Poor’s report has found that Shariah-compliant equities worldwide lost over $5.6 trillion in value during the third quarter of this year. However, the latest review of the S&P Global Shariah Index Series said that in most cases, Shariah investors have benefited from their lack of exposure to financials, which has been the focus of the market sell-off. Stocks that comply with Islamic law lost 23.4% of their value on a total return basis over the year from last September 30, as measured by the S&P Global BMI Shariah index, covering 52 of the world’s largest developed and emerging markets. The non-shariah conventional index, S&P Global BMI, fell 25.3% over the same period.

continue reading at…

http://www.ameinfo.com/173352.html

 

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