CZECH - Islamic banks an inroad for exporters

www.praguepost.com -Muslim institutions could be key part of Czech export strategy

As the government looks to wean domestic companies off their dependence on exports to struggling eurozone countries, the new strategy looks east to high-growth, high-volume markets in developing nations.

It's a plan that has been widely criticized by small business leaders as too risky, and banks aren't exactly lining up to finance dicey ventures, but a group of Islamic banking experts who convened recently for a conference at the Czech National Bank say Islamic banking can help Czech exporters crack new markets in predominantly Islamic countries. Unlike Western commercial banks, Islamic banking practices must be consistent with Islamic law, which forbids charging interest, funding speculative investments and investing in companies whose activities run counter to Islamic teachings like alcohol or gambling outfits.  (source)