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Wednesday, June 22, 2005

Muslim countries to establish Islamic bank

wtc.jpg A coalition of Muslims enters the banking industry.

Apparently prodded by criticism that they're great at destruction but not so adept at building things, the world's Muslim countries are going into business:

Muslim bankers and regulators announced plans Wednesday to set up a global Islamic bank by next year that could rival Western lenders and to chart a 10-year blueprint to bolster growth in the Islamic financial sector.
Wow, that's pretty ambitious. Just how will this bank come to dominate the global financial sphere?
Officials have said the bank will operate in keeping with Islamic laws, which means no interest would be paid or charged on deposits and loans.
Oh. In a similar vein, I'm pleased to announce the formation of Bramanti Motors. We're gonna make cars and give them away. All I have to is find someone to hook me up with a million tons of free steel.

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