Patrick Imam and Kangni Kpodar, Islamic banking : how was it difused ?, IMF Working paper, African Department, Aug 2010 - WP/10/195
see original post : http://islamicfinanceindonesia.blogspot.com/2010/08/banking-911-attacks-gave-rise-to.html
Showing posts with label imam. Show all posts
Showing posts with label imam. Show all posts
Wednesday, September 01, 2010
ARTICLE - BANKING - IMF - Islamic Banking : how was it difused ?
see original post : http://islamicfinanceindonesia.blogspot.com/2010/08/banking-911-attacks-gave-rise-to.html
BANKING - 9/11 attacks gave rise to Islamic banks: IMF
Muslim investors chose Islamic banking since they feared US freeze
The 2001 September terror attacks in the United States have given rise to Islamic banks worldwide as Muslim investors kept their funds at home in fear of any US freeze decision, the International Monetary Fund (IMF) has said.
But a stronger positive impact on the mushrooming of Islamic banks was the sharp rise in oil prices, which coincided with the September 11 attacks, the IMF said in a study on Islamic banks published on its website this week.
"Our results suggest that the September 11th attack on the United States had a positive impact on assets of Islamic banks, perhaps because Muslim investors, who have traditionally invested in the West, were compelled to keep more money at home for fear of expropriation, for instance," the Washington-based IMF said.
But a stronger positive impact on the mushrooming of Islamic banks was the sharp rise in oil prices, which coincided with the September 11 attacks, the IMF said in a study on Islamic banks published on its website this week.
"Our results suggest that the September 11th attack on the United States had a positive impact on assets of Islamic banks, perhaps because Muslim investors, who have traditionally invested in the West, were compelled to keep more money at home for fear of expropriation, for instance," the Washington-based IMF said.
Subscribe to:
Posts (Atom)