Let the Freaking Out Begin: Bloomberg Releases Comprehensive Islamic Finance Platform

[LuckyTheDog]

Kuala Lumpur, February 21, 2011 -- Bloomberg Professional® service executives today announced the launch of a Bloomberg Islamic Finance Platform (ISLM), a comprehensive solution designed to increase transparency, better connect the community and provide analytical tools to maximise investment performance in the rapidly growing market for Shariah-compliant products and services.

Bloomberg also announced, in cooperation with the Association of Islamic Banking Institutions Malaysia (AIBIM), the launch of a Malaysian Ringgit (MYR) sukuk index to provide a benchmark for MYR sovereign sukuk investments.

“The Islamic marketplace is growing rapidly and there is high demand for a wide range of resources,” Dan Doctoroff, President of Bloomberg L.P, said from Kuala Lumpur. “Bloomberg is delighted to increase its commitment to serve this dynamic market, where we have nearly 20 years of experience in reporting on Islamic financial news, in all regions and across multiple asset classes.”

More: http://www.bloomberg.com/news/2011-02-23/bloomberg-releases-comprehensive-islamic-finance-platform.html

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[aquart]

1. Bloomberg. LOL.

[sinkingfeeling]

2. Psst, don't tell Oklahoma.

[zazen]

3. "Shariah-compliant?" is this from the Onion?

[elleng]

4. Don't think so.

Islam does not permit 'interest' to be charged/obtained, so mechanisms are devised to enable people/businesses to borrow. That's probably what this means.

[LuckyTheDog]

5. No. This is real...

... and not at all sinister. But Fox News won't see it that way.

[LibertyLover]

6. I work for a NGO that provides loans to private companies

in the developing world. We have Sharia-compliant products and services as well for clients who want them. It's good business in this day and age.

[LuckyTheDog]

7. And that is a fine thing to do

But every time the word "Sharia" is uttered, a head explodes in the right-wing blogosphere.