Description
Global financial system runs into trouble in 2007. While many western banks defaulted during that period, no major Islamic bank defaulted. For this purpose, this book tries to understand what methods used by the Islamic banks to spare from the crisis. Because Islamic banks do not charge interest as their conventional counterparts and instead use profit and loss sharing methods, this book gives some important information on how Islamic bank work in practice. The book introduces also financing modes used by the Islamic banks Addawe Salad studied at Aalto University School of Economics, Finland and earned Master of Science in Economics and Business Administration (MSc). His area of study is accounting and financing. In 2004 he began working for small organization as an accountant. He also worked for Ministry for labour.
