Islamic finance: paying for piety? UM Financial’s troubles were a rocky start for sharia banking

For Canada’s 1.3 million Muslims, UM Financial arrived on the financial scene with a valuable service: mortgages that, in compliance with sharia principles, don’t charge interest.
But its failure last year has sparked a fierce debate about whether Islamic banking should be banned, or whether it’s still a potentially lucrative industry in need of better regulation.

http://www2.macleans.ca/2012/01/06/paying-for-piety/

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