HashimKamali

Friday, 23 July 2010 13:09

Viewpoints: Debt Management with a Conscience

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The world experienced two major financial crises within a decade: the currency and stock market crises of 1997-98, and now a crippling recession that began with the US subprime debacle caused by excessive lending to borrowers unable to make repayment. Both originated in 'asset bubbles' and unlimited creation of fiat money that loaded the market with the sale of debts, or bay' al-dayn, as it is known in the jargon of shariah law. Dealining in debts that lacks any asset base overwhelmed the financial system......... Download the full article in pdf attachment (below)

 

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