Banking & Finance » Overview

Islamic banking & finance institutions would neither pay interest nor earn interest. Bank-depositor relation would be based on the depositor sharing the profit accruing as a result of the bank's profitable use of the deposits pooled together. On the asset side a number of ways were tried to earn profits including partnerships and profit-sharing (mudaraba) with businessmen. Many Islamic banks entered into business directly, buying and selling commodities, land or real estate. Experimentation soon led to what is currently the predominant form of Islamic finance. In a nutshell, the core idea behind commercial and investment banking, that of financial intermediation, is retained but the ethically repugnant practice of interest on loans is discarded. Within a short period of fifty years, the first half of which was devoted mainly to theory and model building, Islamic banking established itself as an alternative, claiming ethical superiority over conventional banking.

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Mechanics And Operations Of An Islamic Financial Market
Journal of Islamic Banking And Finance, Vol: 5, No. 3 1988 (SUMMER), 31 - 36
Dr M. Umer Chapra

The most befitting thing for me to do is address myself to the practical aspects of an Islamic financial market. I wish to do this by posing four important questions with a view to understanding the benefits and problems of an Islamic financial market in its various... Read More

Islamic Banking: An Evaluation
- By Syed Nawab Haider Naqvi
Institute for Development Research, 10, Nazimuddin Road, F-ll/4
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Islamic Banking
- By Mohamed Ariff
Islamic Business and Finance Homepage
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Islamic Banking
- By A.L.M. Abdul Gafoor
Source Title: http://users.bart.n1/~Abdul/Book4.Html
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IDB: Islamic Banking: Going Strong
- By Staff Report
Impact International, Volume:27, Issue: No4, April 1997, 38-39
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Islamic Banking: Rising Appeal for Lenders and Borrowers
- By Staff Writer
Journal of Islamic Banking Finance, 11, No 2, April - June 1994, 50-57
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The Equate project: An introduction to Islamic Project Finance

Journal of Project Finance, Vol 5, Issue 4; New York; Winter 2000 Read More

ISLAMIC BONDS (SUKUK): ITS INTRODUCTION AND APPLICATION

Latest information about Sukuk Read More

Mudaraba Frame Work : Dr. Monzer Kahf

Prof. Monzer Kahf: I am presently working on Estate planning for Muslims in non-Muslim countries Read More

Riba in Islam

The Foundations of Islamic Finance

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