Economic Crisis from Islamic Perspective Conference Kicks off

[12/3/2010 12:00:00 AM]

AMMAN - Participants in a conference on Economic Crisis from Islamic Perspective discussed Wednesday working papers on the universality of the Islamic economy and its importance in the present.

The event, organized by the World Islamic Sciences and Education University (WISE) and the International Institute of Islamic Thought (IIIT), called for implementation of the Islamic economic system as a solution to the world's economic ills.

Minister of Finance Mohammed Abu Hammour presented a working paper on roots of the economic downturn and its repercussions, in which he highlighted the ability of the Islamic banking sector to face crises. He underscored the importance of developing the Islamic financial industry to further contribute to global development.

Challenges posed to regional countries is to overcome repercussions of the crisis and benefit from potentials of the coming economic recovery, Abu Hammour said.

Other working papers were presented at the conference, highlighting the ability of the Islamic banking and financial system in saving the global financial industry from any future threats to its stability.


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