The Future is Islamic Finance

It may not have escaped your attention that during the Credit Crunch, the bankrupt nature of Capitalism and bailout of the banks, apart from causing huge controversy also resulted in an interesting debate about the western financial system.

Part of that debate has involved a re-examination of the casino capitalism, over hedging and gambling by spivs in the City, which without the taxpayer bailout could have turned a recession into a depression.

The major beneficiary of this debate has been the closer scrutiny of Islamic finance particularly in view of the UK Govt's declared intention of turning London into "Europe's gateway to Islamic Finance"

This report in the Guardian shows Islamic Finance as one of the fastest growing sectors in banking with a significant increase in applications for courses at University this September.

Perhaps some good can come after all from the misery we are suffering as a result of the gross incompetence and negligence by our capitalist bankers who still, despite their crass stupidity are benefiting from bonuses.