The Kiwanis Club of Colonial Capital recently heard a presentation about Islamic finance from Frank Knuettel, who has been a financial analyst specializing in the Energy Industry and has traveled extensively in the Middle East. He said that banking and finance in Islamic countries is heavily influenced by Sharia law which constitutes the governing law in many cases and has specific rules regarding lending, interest and property ownership. This in turn requires unique business relationships with the businesses and banks in Western countries. Pictured above are Club member Walt Siegel, Knuettel, and Club President Larry Shoberg.
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