 |
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.
 |
|
Islamic Banking Windows
New Horizon, No. 119, May 2002, 3-5
Justice Mohammed Taqi Usmani
The past two decades have witnessed a substantial increase in the number of Islamic banks, financial institutions and Islamic funds in different parts of the world. Initially... Read More |
|
|
| |
Islamic Banking: A New Vehicle In Fostering Entrepreneurship
- By Sudin Haron
Journal Of Islamic Banking And Finance,Vol: 13, 3, July-Sept. 1996, 28-39
Read
more |
|
Theory and Practice of Islamic Banking
- By Mohammad Afzal
Pakistan Economic and Social Review, Vol 31, No. 2, Winter 1993, pg.102-117
Read
more |
|
Malaysia’s Interest Free Counters: No Room for Religious Sentiments
- By Staff writer
Islamic Banker, Issue 8, August 1996, 13-15
Read
more |
|
Al-Rajhi - Islamic Banking's Flagship in Saudi Arabia
- By Staff writer
New Horizon, No. 23, January 1994, 7-8
Read
more |
|
Making Sense of Islamic Banking
- By Osama Mohamed Ali
New Horizon, 26, April 1994, 4-6
Read
more |
|
| |
|
|
|
By pressing
the button you can submit your article
|
| 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 |
|
|
|
