Development Bank

Is Islamic finance the answer?

By Robin Brant
Malaysia correspondent, BBC News, Kuala Lumpur

Experts in Islamic finance believe their way of doing business has shielded them from the global credit crisis.

But how does it differ from conventional Western finance?

A former executive director of the International Monetary Fund, Dr Abbas Mirakhor, says wider Islamic economics relies on God's guidance, handed down almost 1,400 years ago.

There is a "consciousness of a supreme creator and a system that he has provided", he says.

What we know as the conventional Western way does not have that, which is "really the major difference between the two", he adds.

In practical terms, the most significant difference is that charging interest is not allowed in Islamic finance.

KNIGHTSBRIDGE RESIDENCES
FREQUENTLY ASKED QUESTION

The Knightsbridge Residences is the second residential tower to rise at Century City in Kalayaan, Avenue, Makati that features cutting-edge architecture, a smart concept for combinable residential units, and hypersized amenities at an affordable price package.

Who is the developer and construction manager of The Knightsbridge Residences?
Century City Development Corporation (CCDC), an affiliate of the Century Properties Group that focuses on developing live, work and play communities. One such project is the 3.4-hectare mixed-use integrated development called Century City, the site of premiere residential high-rises The Gramercy Residences and The Knightsbridge Residences.

What are the other projects of Century Properties?

Comparison of 2 CV's

Chief Executive of India

Title: Prime Minister

Name: Dr Manmohan Singh

EDUCATION /Qualification:
1950: Stood first in BA (Hons), Economics, Panjab University, Chandigarh ,
1952; Stood first in MA (Economics), Panjab University , Chandigarh,
1954; Wright's Prize for distinguished performance at St John's College,Cambridge,
1955 and 1957; Wrenbury scholar, University of Cambridge ,
1957; DPhil (Oxford), DLitt (Honoris Causa); PhD thesis on India's export competitiveness

Working Experience [Teaching]
Professor (Senior lecturer, Economics, 1957-59;
Reader, Economics, 1959-63;
Professor, Economics, Panjab University, Chandigarh, 1963-65;

Professor, International Trade, Delhi School of Economics,Universit y of Delhi , 1969-71;