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Islamic Finance Course at CFA

ACCORDING TO Arab News, the Charlottesville, Virginia-based CFA Institute will soon be offering a curriculum that includes “Islamic Finance.” The Institute has offices around the globe and promotes transparency, fairness, and ethical standards in the financial industry.

For religious reasons, Islamic societies traditionally forbid practices that are common in Western economies: the taking of interest on loans or the creation of money as interest-bearing debt, as practiced daily by commercial banks and central banks like the Bank of England in the UK or the Federal Reserve here in the United States.