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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Istisna' and Its Application in Islamic Banking
Arab Law Quarterly, [2001] 22-48
Muhammed Al-Bashir Muhammed Al-Amine

INTRODUCTION

The emergence of Islamic banking represents one of the important characteristics of Islamic resurgence in our time. Many Islamic commercial contracts such as Mudarabah, Musharakah, and Murabahah have been revived. Istisnd' in its own right can play an... 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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Islamic Banking—The Jordanian Experience

Arab Law Quarterly, 2, Part 3, August 1987, 207-229 Read More

ISLAMIC BONDS (SUKUK): ITS INTRODUCTION AND APPLICATION

Latest information about Sukuk Read More

Islamic Banking and Finance growth is vital: Prof. M.A. Mannan

Riba in Islam

The Foundations of Islamic Finance

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