Emirates in the same crisis like USA

It is about two month ago when Hamas PM said that Allah was punishing the USA for its ignorance of Koran laws especially the usury. It’s a bit funny because the main interest rate in the USA reached zero which is fully compatible with the Sharia law. But Hamas officials have also forgotten on something, crisis has hit hardly the UAE to - pride of the Islamic developed world.

Three days ago the UAE government accepted financial bailout for the five Abu Dhabi Islamic banks (more here), so as we can see even the Sharia law hasn’t been able to stop unavoidable.

Neither the USA nor the UAE are facing to Allah’s wrath, both countries have just realized what does the Austrian Business Cycle mean. In consequence of state controlled money policy and overregulated markets had been created many useless products meaning their price has slumped sharply mainly then in a real estate sector.

Actually the Sharia regulations (options, futures, leverage, stock borrowing, short sales and interest-bearing loans, in their common form, run afoul of Sharia principles) could make situation worse because as I pointed before any regulation soon or later will cause problems.