Global financial crisis

I wrote a posting about current global crisis undermining smallholders. I thought that smallholders affected by global crisis were related to international commodities such as oil palm. Smallholder is only one of groups that become vulnerable when crisis hit developed countries.

Now, global financial crisis seems on the way, comes from the slowdown of US economic as well as in European countries. It threats the new economy in South such India and South east Asian.

financial crisis 2012I wonder on the next crisis phase which will impact more people of groups such workers.  As shown in the recent news, huge companies are decreasing their workers for business survival reasons.  This situation draws attention of most established families who are planning their retirement.

How they can address it at current global crisis?

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Global crisis, islamic finance and life insurance

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?

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