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Sadly, whether it's Muslim minarets or the notion of Islamic banking, any concept even remotely connected to Islam and Muslims seems to elicit a completely irrational fear.
By contrast, Islamic banking exists to further the socio-economic goals of Islam.
Some in Malaysia and Indonesia are pushing Islamic banking.
South Africa's ABSA opened an Islamic banking division in 2006.
"Islamic banking cannot be taken seriously until we have some global Islamic banks," says Simon Eedle, managing director of Islamic banking at Calyon, a French investment bank.
"We are focusing on Islamic banking since the growth of Islamic banking in Indonesia is quite high compared to traditional banks," he said.
The school also offers an Islamic banking specialization for M.B.A. students and plans to offer a bachelor's in Islamic banking and a doctoral program next year.
Saudi Arabia is one of the main growth areas for Islamic banking.
Sukuk and other Islamic banking instruments are tracked on the Dow Jones Islamic Market Index.
"The gap between conventional and Islamic banking solutions has narrowed substantially," Mr. Saifi said.
More recently, the council has tapped into Indonesia's lucrative Islamic banking industry.
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