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November 30, 2011

News and Analysis (11/30/11)

Islamic Banking has experienced a compound annual growth rate of 20 percent over the past three years and is predicted to almost double to $1.8 trillion in assets by 2016, yet suspicion is still present on the power of Islamic banking to eliminate the problem of leverage:

In “proceedings which could write legal history,” a “German federal court backed banning a Muslim pupil from praying according to Islamic rites at a Berlin public school, ruling it could jeopardise its smooth operation,” despite the fact that the right to pray, even during school, is a religious freedom guaranteed by the German constitution:

“The term French Muslims is both paradoxical and simplistic, but one that marks out those heirs to a particular history within the wider history of the French nation, those who came to build and defend France with little recognition. It means together creating a new country where, through confrontation and conjugation, we learn to shake off our hidebound identities”:

“Turkey is a Muslim state with people from different religious sects living in peace” and its influence in the Middle East is on the rise as it holds the Sixth Trilateral Summit between Turkey, Pakistan and Afghanistan …

… and increases sanctions on Assad urging him to step down:
Under pressure for the US Europe and the UN, Israel backs off its attempt to punish Palestinians for UNESCO’s recognition of Palestine by withholding their own tax money used to pay tens of thousands of workers and sustain the Palestinian Authority’s economy and security forces:
“Republicans on the campaign trail and in Congress have criticized Obama for withdrawing all US troops from Iraq and failing to secure an agreement with Maliki to keep some U.S. forces in the country to help assure that it remains relatively stable” and contain the interests of Iran. Al Maliki is scheduled to meet with Obama about the issue in the White House on Dec 12:

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