Islamic Banking—the Antidote to Inflation?
When “Islamic finance” is mentioned, ideas of the latest Gulf mega-projects spring to mind. However, for millions of Muslims throughout the Middle East, Islamic finance is analogous to a credit union in the United States. In places like Jordan and Turkey, the system is witnessing considerable growth, but for quite different reasons. While Jordanians look to Islamic finance as a route to development, the Turks use it to fight inflation.