 |
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.
 |
|
Component Of Islamic Banking
Islamic Economics Research Bureau, Dacca, Bangladesh: First Edition 1982
Muhammed Sadeque
To begin with the subject "the Components of Islamic Banking", we may quote an accepted definition of Islamic bank. "An Islamic bank is a financial institution whose statutes rules and procedures expressly state its commitment to the principles of Islamic Sharia and to the... Read More |
|
|
|
|
|
| |
Experience of Islamic Banks in West Africa
- By Mohamad Korouma
Banking and Finance: Islamic Concept, Zaman, Mukhtar,Karachi, International Association of Islamic Banks (Asian Region), 1993, 156-159
Read
more |
|
Islamic Banking : Environment, Conception and Methodology
- By Professor M. Raihan Sharif
Thoughts on Islamic Banking: Articles Presented at the 2-Day International Seminar on Islamic Banking held under the auspices of Islamic Economics Research Bureau on the 15th and 17th DecemberDacca, Bangladesh, Islamic Economics Research Bureau, 1982, 57-62,
Read
more |
|
Islamic Banking is a Reality
- By M. A. Arshad
Thoughts on Islamic Banking: Articles Presented at the 2-Day International Seminar on Islamic Economics Held under the Auspices of Islamic Research Bureau on the 15th and 17th December, International Seminar on Islamic Banking (1980: Dacca, Bangladesh) (Collab)/ Islamic Economics Research Bureau (Bangladesh) (Collab),Edition: 1st, Dacca, Bangladesh, Islamic Economics Research Bureau, 1982, 123-126
Read
more |
|
Evolving Interest-Free Banking in Pakistan
- By DM. Qureshi
Banking and Finance: Islamic Concept,Edited by Zaman, Mukhtar,Karachi, Publisher: International Association of Islamic Banks (Asian Region),1993, Pg. 33-37
Read
more |
|
Instruments of Islamic Banking: An Evalaution
- By D. M. Qureshi
Journal of Islamic Banking and Finance, Volume1, No.2, Spring 1984, 65-78
Read
more |
|
| |
|
|
|
By pressing
the button you can submit your article
|
| Islamic Banking—The Jordanian Experience
Arab Law Quarterly, 2, Part 3, August 1987, 207-229 Read
More |
|
 |
|
| Geniza: The Unfolding Truth
Mohammed Imad Ali: In the mirror of history were the earlier generations smarter or are we? Read More
|
|
|
 |
|
| Islamic Economics Needs a Great Deal of Creative Thinking: Dr. Umer Chapra
Read
More |
|
|
|
