Business with Islamic values
By Peter Walker for CNN
LONDON, England (CNN) -- Those seeking to do business in the economically-expanding Arab world have to learn about the cultural mores and traditions of the countries in which they work.
But they also have to consider another, even more specialized matter: Islamic finance.
While the charging of interest is central to so many dealings in the U.S. and other Western nations, the practice is forbidden under Islamic Sharia law. Muslims also believe that investing should be socially responsible.
It is an ever-changing area in which a wealth of arrangements are reached to fit in with Islamic needs -- for example, some Muslim purchasers can buy goods in installments without interest, but for a higher overall price.
It is a complex process even for those living in Muslim societies, and now they have a business qualification to help them.
This month, Cass Business School in London, UK, announced the launch of an innovative new Executive MBA which is the first such program to include specialist streams in Islamic finance and energy.
The two-year course is being offered in association with the Dubai International Financial Center (DIFC), based in the economically thriving emirate, part of the United Arab Emirates.
"A real need has been identified in the market for education in Islamic finance and Cass is excited to be offering the first ever EMBA with a specialism in this area," said Meziane Lasfer, professor of finance at the school.
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Create a parallel financial system, and when the time comes, just switch right on over and the dhimmis won't even know what hit them...
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1) Business with Islamic values
Friday, March 09, 2007
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