Profit and the prophet: Indonesian bank offers no-interest service
Article Abstract:
The opening of Bank Muamalat Indonesia (BMI), Indonesia's first Islamic bank, drew mixed reactions from various sectors. Some Islamic groups said that the bank could provide new funds. Meanwhile, bankers felt it a high-risk financial endeavor and political analysts charged that BMI was Pres Suharto's effort to gain greater support from Muslims. BMI's supporters claim that the bank will attractMuslim depositors who feel that other banks violate tenets of their prophet Mohammad. The bank operates by treating depositors as investors while venturingcapital into companies to earn revenues.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Precious little: Vietnam rethinks its gem policies
Article Abstract:
Vietnam's promising gem trade flounders amid govt overregulation and poor enforcement of existing laws, problems that encourage rampant smuggling and fuel a booming black market at home and overseas. Even legitimate dealers admit they get nearly all their best stones under the table, both to avoid huge taxes and because miners get more money selling to smugglers than to the govt. A special panel's recommendations for making the sector more competitive do not go far enough, say most experts.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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