Paralleling Mayor Bloombergs veiled insults towards those acutely aware of the historical Islamic conquest of non-Muslim lands by their building of mosques on top of or dominating a conquered peoples holy sites, is the concurrent Bloomberg LLCs expansion of its Dubai financial center into a regional hub for the UAE.
Founded in 1981 by Michael Bloomberg, who privately owns 85% of the limited liability corporation, Bloomberg LLC is a dominant player in global financial software, data gathering and news, commanding one third of its market niche estimated at $16 billion dollars.
Bloomberg LLC sells its terminals from seven regional hubs: London, Sao Paolo, New York, San Francisco, Tokyo, Hong Kong and Sydney but the Dubai regional center will allow Bloomberg access to Islamic sharia based banking and monetary systems by developing a sharia compliant finance portal.
According to the regional head of Bloomberg LLCs Middle East and South Asia centers, Max Linnington, The region for us has seen explosive growth. For example, last year in the UAE, we grew our core business by 61 per cent. And already this year, we exceeded what we achieved in all of last year in the UAE. So we are selling a lot of Bloomberg terminals, basically.
Linnington went on to add, Particularly since the meltdown of the western capitalist system, there has been an increasingly large focus on the virtues of Islamic finance. Today, there is no one single provider of information that caters to the Islamic finance market. So by Bloomberg being here, we are in the process of building out an Islamic finance product. We are very confident that we can build a product that meets the needs of the market right now.
Bloomberg LLC has news bureaus throughout the Gulf Corporation Counsel (GCC) and is opening offices in Saudi Arabia and Qatar.
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Sharia banking does not pay interest but donates a percentage to Islamic interests around the globe, mostly centering on Islamic expansionism through building mosques, madrassas, Western law suits (lawfare) or more violently through Islamic jihadist terrorism.