Date: 2015-01-21
How investment tools affect culture: Islamic finance
The way Islamic finance has been developing in recent years fascinates me. Of all rigidity, I would have guessed that one of the most rigid one were Islamic principles. Yet, I'd say that the reconciliation between the orthodox Islamic principles and the need for monetization of the relevant economies has taken place. The concept of project financing is not a rare one in Islamic finance, anymore. Over the long run, this should work as a positive force for economic growth for the economic blocks with Muslim population. It'll be interesting to observe how this affects the religion and the culture.