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Research Partnership Takes on Islamic Finance
by Louis Lavelle
A research partnership has been formed to create case studies for business school programs, spelling out the commercial implications of Islamic finance.
Deloitte's Islamic Finance Knowledge Centre (IFKC), a think tank based in Bahrain, is partnering with INCEIF, the Global University of Islamic Finance in Malaysia, and the University of Reading's Henley Business School in England, says IFKC Director Hatim El Tahir.
Islamic finance refers to banking activity that follows the principles of Islamic religious law, or sharia, which prohibits practices that are common in the rest of the world, including charging interest for loans. Instead of a standard mortgage, with the property as collateral, for example, a sharia-compliant bank would take ownership of the property and lease it back to the original owner.
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