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Legal Developments worldwide

Islamic Finance in Singapore

February 2011 - Finance. Legal Developments by Loo & Partners.

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The global economic crisis brought attention to Islamic banking and finance as a more ethical alternative to the western approach of the conventional interest-based finance system. It was perceived that the risk and profit-sharing feature inherent in Islamic finance transactions promotes better financial stability given that such transactions are likely to be less speculative, more prudent and carries less leverage.

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