posted by Christopher W. Holton
Here we have more evidence that Shariah-compliant finance stands diametrically opposed to free enterprise and free market economics.
Indonesia is the world’s most populous Muslim nation, yet, there has been little support for Shariah Finance there.
So, as is a common practice in all nations involved in Shariah-compliant finance, be they Western or otherwise, government is getting involved to put its thumb on the scale and pick winners and losers in the economy.
This never ends well…
The government decided on Tuesday to immediately establish a new national committee to develop the sharia financial industry, which still holds a small market share.