Can Islamic banking turn global financial crisis around?

In Islamic banking, you cannot make money off money. For instance, you have to have a building that was purchased or a service rendered.

AS Western financial institutions collapsed in the recent financial crisis, another financial sector is gaining confidence: Islamic banking.

Proponents of the ancient practice, which follows the Sharia law and bans interest, have been promoting Islamic finance as a cure for the global financial crisis.

Kuwait’s commerce minister, Ahmad Baqer, was recently quoted as saying the global crisis will prompt more countries to use Islamic principles in their economies.