IslamicFinance.de

Dr Asutay critically analyzed the points of departure of the modern Islamic finance industry from the value system and aspirations of the Islamic moral economy. He also talked about the sources of and underlying reasons for this observed deviation and its impact on the wider acceptance of this industry.
Dr Asutay began the lecture with the statement that against the backdrop of global financial crisis, Islamic banks and financial institutions (IBFIs) have succeeded to achieve modest growth in their asset base and also in other institutional and financial variables.
He also hoghlighted that there seems to be an overwhelming convergence of IBFIs with conventional banks and financial institutions in terms of operations and products.