Islamic banking

Prince Mohammad Al-Faisal began an experiment in Islamic banking, insurance, and economics seven years ago. The Faisal Islamic Banks are expanding and, along with the Islamic Investment Co. (IIC), exist in several countries. A group of Islamic Solidarity companies is being established in several nations as well. A holding company called Dar Al-Maal Al-Islami (DMI) was founded in 1981 and encourages Islam's ethical approach to business through the international creation of banks and investment and insurance companies. Islamic insurance companies operate on the concept of takaful (solidarity) and do not involve individual risk. DMI's shares are in great demand and increasing rapidly in value. In accordance with Islamic principles, DMI weighs many socioeconomic factors before it invests. It considers the best interests of all parties involved, not just of the investor. DMI invests in the trade of currency and precious metals and industrial, agricultural, and commercial projects