"The Islamic financial system offers a true asset-based" economy, and ways to overcome the current global financial crisis, "said Haris Ahmed, a workshop on 1 October 2008 in London, organized by objective." Goals and the International Academy for Contemporary Studies is one of the leading Islamic finance training and consulting organization with headquarters in the chat UK.
Mr. Ahmed, a Business Development Executive at AIMS, explained that Islamic financial institutions are closer to the economy because they affect the risk for the employer of capital and profits later. Islamic bank is not conventional loan, with interest, but they are the shareholders and the risk of successful entrepreneurs. He explained that Islamic financial prohibits' interest ', but it does not prohibit all gains on capital. Prohibition of risk and returns and trade makes the financial activities in the Islamic real estate with potential to cause "value". Islamic banking on the basis of risk-sharing, ownership and management of physical goods, involvement in the negotiations over the leases and contracts with various forms of Islamic finance. Islamic financial transactions to be permitted, should be read in conjunction with the goods, services or benefits.
Islamic financial products are recognized worldwide and can be a safe haven in these difficult times. With American politicians of coding at the fair, as leaders on both sides of political divide call for changes in the U.S. financial regulatory framework, it does not sound so far-fetched to propose Wall Street could learn the Islamic finance. In Islamic finance transactions, but on the basis, not as a duty is based. Lack of debt in the Islamic finance sector shields many of the problems caused by bad loans. The ban on short selling is one of the decisive elements in Islamic finance, it seems almost that the conventional markets are looking for Islamic practices that have not yet played a role in conventional markets.
Currently, the Muslim population in the world, more than 1.5 million people, which is approximately more than 23% of the worlds' population. Islamic banking is the financial sector, the fastest growing in the world. The sector is more than 750 billion euros and its annual growth is about 20%.
In his speech, Mr. Haris Ahmed enlightened that the size of the Islamic financial industry can grow with a higher percentage, if some industry problems. For example, in a number of Islamic financial institutions, human resources within the international financial institutions do not fully understand the rules and regulations of Islamic financial products. For this reason they can not depend on the precise mechanism to explain the Islamic law. In addition, the mechanisms of some Islamic financial instruments that are used at several renowned Islamic scholars worldwide, including sharia scholars in Saudi Arabia, Malaysia, Pakistan, Jordan, etc. As a consequence of these facts and doubts, a large Muslim population remains unwilling to deal with Islamic financial institutions. However, if these issues are resolved, the size of the Islamic financial industry can significantly increase.
International Academy for Contemporary Studies, whose goal is to encourage people to experts on Islamic finance professionals and companies to better Islamic financial system has made a significant contribution to the Islamic finance industry. For many years, with a mission to promote industry professionalism and best practices in Islamic banking and finance industry through research, consultancy, training, seminars, workshops and publications. AIMS also offers several certificates of Islamic finance, Islamic banking and Islamic insurance. AIMS several business partners worldwide, including USA, Canada, the United Arab Emirates, Nigeria, Mauritius, Ghana, etc.