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
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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

Framework Of Islamic Banking
- By Dr. Ziauddin Ahmad
Journal of Islamic Banking and Finance Vol 1, Issue 2 Spring 1984
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Achievements And Problems Of Islamic Banks
- By Dr. Ahmad Al-Naggar
Journl of Islamic Banking and Finance Vol: 1 Issue: 2; spring 1984
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Leasing -- A Flexible Mode Of Financing
- By Dr. Noor Ahmed Memon
International Association of Islamic Banks (asian Region), Karachi; 1993
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Islamic Banking: State Of The Art
- By Ziauddin Ahmad
Islamic Economic Studies Vol: 2 Issue: 1 [Rajab 1415H (DEC 1994)]
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Component Of Islamic Banking
- By Muhammed Sadeque
Islamic Economics Research Bureau, Dacca, Bangladesh: First Edition 1982
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The Equate project: An introduction to Islamic Project Finance

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