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How do firms like Citibank, UBS, Barclays, HSBC, AIG, and Blackstone describe Shariah banking?

April 26, 2017aig Banking Barclays Blackstone Citibank firms HSBC shariah ubs

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How do firms like Citibank, UBS, Barclays, HSBC, AIG, and Blackstone describe Shariah banking?

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The marketing materials of these firms focus on two seemingly harmless details of “Islamic” investing 1) limited “interest income” and 2) un-Islamic banned “sin” industries of alcohol and gambling. Therefore, investment firms describe Shariah finance as “interest-free,” “ethical,” and “socially responsible” investing. Quotable Quotes: AIG: The Introduction of Takaful (Shariah insurance) products in the U.S. represents.…emerging growth opportunity for AIG Commercial Insurance.