No other place loses such a large portion of its indigenous capital as Africa.

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China too is moving to the next level by developing its own indigenous venture capital community, its own local currency funds and its own stock exchanges.

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Thousands of indigenous people arrived in the capital on Thursday carrying a giant rainbow flag, having marched for two weeks from the Amazon rainforest town of El Pangui.

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Banking scholars also argue that Islamic law blocked indigenous financial modernization in Muslim countries because of an inheritance system that restrained capital accumulation, inhibitions on pooling resources that discouraged investment diversification, and a traditional aversion to the concept of legal personhood for corporations, which hampered the development of financial entities.

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Panos Lioulias, chief executive of Qubis, a venture-capital outfit that nurtures spin-offs from Queen's University in Belfast, thinks indigenous entrepreneurs are a big part of the remedy.

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