At the opening of World Islamic Economic Forum (WIEF) in Jakarta weeks ago, almost every speaker talked about the excesses of irresponsible financial market for triggering the global crisis. My highlight of global crisis was about smallholders farmers of palm oil suffered from decreasing commodity prices. Another highlight shows how some vulnerable groups of people are facing the risk of global crisis.
The forum was touted Islamic finance as a framework for a more stable global financial system. What are the differences with conventional, traditional or western financial system? And what is the relation with life insurance?