Islamic Banking During Financial Crisis - Financial Crisis and Islamic Finance | AIMS UK
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 Published On Jul 9, 2020

Free Lecture on Islamic Banking During Financial Crisis and for more lectures: https://aims.education/financial-cris...
The global financial crisis affect all the major financial institutions, but the Islamic banking and finance industry surpasses all Western conventional numbers. There are several ways in which Islamic banking can help to avoid financial crises. The focus on profit-sharing rather than interest means that there is less incentive for banks to engage in risky lending practices. This can help to reduce the likelihood of a financial crisis caused by too much debt. Islamic banks are typically more diversified than conventional banks, which can help to protect them from the effects of a financial crisis in any one particular sector. The principles of Islamic banking promote transparency and accountability, which can help to prevent financial crises caused by fraudulent or deceptive practices.

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