Oil wealth takes Islamic banking mainstream

By Wayne Arnold
International Herald Tribune

November 21, 2007

KUALA LUMPUR, Malaysia: Rising oil wealth is lifting Islamic banking – banking that adheres to the laws of the Koran and its prohibition against charging interest – into the financial mainstream. Big banks like Citigroup, HSBC and Deutsche Bank, as well as financial capitals like London, Tokyo and Hong Kong, are all going into the Islamic banking business… more