Takaful institutions feeling 'less disruption' from global financial crisis - S&P
Gulf Islamic financial institutions (IFIs) and takaful companies are feeling the repercussions of the current global financial market disruption less than most of their conventional counterparts because Sharia law prohibits interest-based financial products, according to a new report by Standard & Poor's.
"IFIs didn't invest in the structured products that have hampered many conventional banks' financial profiles and performance," said Standard & Poor's credit analyst Mohamed Damak in the report.
And
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