I think the banks will continue falling in the USA until regulators and corporate governance of the do not take the following steps:ġ-Current banking laws and regulations and practices are based on the interests (riba) gharar ( uncertainty) and Maiser ( gambling) must be changed to alternatives principles which are free of those three elementsĢ-Switching from current volatile conventional depositing practices to interest, uncertainty and gambling alternatives principlesģ-Restrucutring the current lending and financing practices of all the banks into practices which are free of interest, uncertainty and gambling.Ĥ-Moving from current indirect mortgage financing practices to direct mortgage selling practices.ĥ-Switching the current collateral-based lending and financing practices into more controlled cash flow and trustworthiness assuring practicesĦ-Switching from current direct investment practices of the banks into more investment practices free of interest, gambling and uncertainty-based practices.ħ-Switching the current USA legal and regulatory banking framework which is in the favor and supporting of the interest, gambling and uncertainty practices into more interest, gambling and uncertainty free practices regime of banking laws and regulations. How to save the US current banking industry from collapse
On Wednesday, shares in PacWest plunged by as much as 60pc in after-hours trading, prompting the bank to announce that it was seeking salvation either through an emergency cash call, or, like its stricken rivals, in the arms of a bigger competitor.
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