Islamic finance can fuel regional economies

A historic opportunity for economic and financial change guided by Sharia-compliant instruments appeared because of the political transformation in the Middle East and North Africa.
Volker Nienhaus, economic adviser and former president of the University of Marburg, stated at the 19th International Conference on Investment Rules and their Impact on Economic Development that Islamic instruments should be invested in the development of an entrepreneurial middle class so that long-term economic progress and job creation can be guaranteed.
Dr Nienhaus underlined his statement by telling Gulf News that the promotion of enterprise among the middle class was the key to ensuring regional stability.