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Submitted by Daniel on
Yes, but at the same time Islamic banking has never dwelved in the excesses of Western Banks resulting in profits benefitting private shareholders, while excesses are socialized by government bail outs financed by tax payers. Islamic Banking might have its drawbacks but the inability to turn every debt into a securitized instrument that it then sells on also ensures that the Islamic Bank assumes a much greater responsibility of its lending risks. Not a bad thing in my view.