Emerging Corruption has the details:
Ground Zero Mosque Madness: NYC Mayor Bloomberg’s Bloomberg LLC expanding its financial center to a regional hub in Dubai
Bloomberg LLC sells its terminals from seven regional hubs: London, Sao Paolo, New York, San Francisco, Tokyo, Hong Kong and Sydney but the Dubai regional center will allow Bloomberg access to Islamic sharia based banking and monetary systems by developing a sharia compliant finance portal.
According to the regional head of Bloomberg LLC’s Middle East and South Asia centers, Max Linnington, “The region for us has seen explosive growth. For example, last year in the UAE, we grew our core business by 61 per cent. And already this year, we exceeded what we achieved in all of last year in the UAE. So we are selling a lot of Bloomberg terminals, basically.”
Linnington went on to add, “Particularly since the meltdown of the western capitalist system, there has been an increasingly large focus on the virtues of Islamic finance. Today, there is no one single provider of information that caters to the Islamic finance market. So by Bloomberg being here, we are in the process of building out an Islamic finance product. We are very confident that we can build a product that meets the needs of the market right now.”
Indeed it’ll meet the needs of the Sharia market right now.
