State-controlled Kuwait News Agency has just published an article in which it flat out claims that “The global financial crisis has not hit Islamic finance industry thanks to its sound and strong systems.”

This is a lie. They even have the temerity to cite asset levels within the Gulf Cooperation Council (GCC) as evidence, completely ignoring serious financial troubles with banks in Dubai, Bahrain and Qatar.

SFW has documented those problems:

http://www.shariahfinancewatch.org/category/economic-crisis/

Here is a link to the KUNA article:

http://www.kuna.net.kw/NewsAgenciesPublicSite/ArticleDetails.aspx?id=2037190&Language=en

 

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