Showing posts with label matahir. Show all posts
Showing posts with label matahir. Show all posts

Wednesday, December 08, 2010

MALAYSIA - BANKING - Ex-PM hails Islamic banking as "superior"

Malaysia's outspoken ex-prime minister Mahathir Mohamad has blamed Western lending practices for the world's financial problems and hailed Islamic banking as a "superior" model.

On Tuesday, Mahathir told a conference on Islamic finance in Singapore that the 2008 global financial crisis was sparked by excessive lending by western banks.