Flexible conduit (TT Feb09 p20-21)

In a report of November 2008, Moody’s stated:

 Islamic banks’ reputation has benefited from the current crisis … reflecting their conservative approach to business … and their focus on [the] basics of banking. 

Islamic finance now has a once-in-a-generation opportunity to demonstrate its capabilities before a wider audience as the funding gap in the conventional banking sector forces borrowers across the globe to seek alternative sources of funding.