Turkey’s Yilmaz: Islamic finance a force for stability
During the recent financial crisis, Islamic financial institutions have demonstrated significant resilience, said Durmus Yilmaz, the governor of the Central Bank of Turkey.
Yilmaz said by linking credit supply to the growth rate of the economic activity, Islamic finance acted as a natural hedging scheme. He said financing extended by means of Islamic institutions could be used only with the real economic activity, and so helped restrict excessive credit boom.
As Islamic financial institutions'
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