Malaysia's Mahathir: Islamic finance must not follow western banking model
Mahathir bin Mohamad, a former prime minister of Malaysia, on Tuesday called for the Muslim world to learn from the financial crisis but not follow the speculative behaviour that fed the housing bubble in western nations.
During his speech at the 7th Islamic Financial Services Board Summit in Manama, Bahrain on Islamic Finance Mahathir's said there was a growing need for western banks, financial and monetary systems to be reviewed and changes made to prevent recurrence of the abuses.
"There is a
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