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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Financing Infrastructure Building: Role Of Islamic Financial Institutions
Seminar on Cooperation Between Government and the Private Sector in Financing Economic Projects
Muhammad Nejatullah Siddiqi

Introduction

Infrastructure refers to roads, bridges, railways, water-ways, airways, and other forms of transportation and communications as well as water supplies, electricity and telephone. It also includes financial institutions and... Read More

Partners In Profit
- By S. Kamaluddiin
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Manhattan's Islamic Paper Chase
- By Dina Shehata
Islamic Banker Issue 11 November 1996
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Taking Stock
- By Muhammad Akram Khan
Inquiry Vol 5 Issue 4 April 1988
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Investing In Partnership
- By Mohammed Tariq
Islamic Banker: New and Analysis of Islamic Banking, Finance and Insurance
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The Interest Rate And Islamic Banking
- By H. Shajari & M. Kamalzadeh
Islamic Economic Studies, Vol 3, Issue 1
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Islamization of Insurance —A Religio-Legal Experiment in Malaysia

Religion and Law Review, Vol-2, Issue-I, Yr- 1993, Pgs- 16-40. 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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