A Billion Here, A Trillion There

I think I'll use this post to dedicate a new Category, "Where Will All the Money Go." 

I'm inspired in part by the excellent work at the MEMRI Economic Blog.  The purpose of the new category will be to collect news items on the (very) quickly burgeoning industry of Islamic banking.  Why?   Because the long term latent effects are still unknown, and unfortunately unstudied.  The petrodollars pouring into the Persian Gulf -- by the hundreds of billions of dollars annually -- has to go somewhere.  Money being what it is, this is the kind of cash that can buy a lot of influence and possibly a lot more (radical) Islam across the global.

For example, two recent reports:

Islamic Financial Industry to Reach More than $2 Trillion in 2013

Saudi Telecom considers more Islamic funding. (Middle East Economic Digest)

Saudi Telecom is considering raising a sharia-compliant loan to fund its $2.7bn acquisition of a stake in Oger Telecom