Indonesian Vice President Jusuf Kalla Sunday said Islamic banking had escaped the global economic crisis relatively unscathed as he took a swipe at the Western financial system. "The latest global crisis has taught us that an economic (system) which is based on unreal transactions will be easily ruined," he told a pre-opening conference of the fifth world Islamic economy forum.
He said the Islamic banking and finance system had proved its strength by escaping relatively untouched by the global financial crisis.
"We all know that Muslim countries with an Islamic economic system during this current (crisis) situation are relatively unaffected by serious problems," he added.