In a world where conventional interest-based finance is the dominant framework, Islamic banking faces many challenges. This book is the first to address different Islamic banking issues from both the researchers and practitioners' perspective across the world, reviewing their past experiences of Islamic banks.
In a world where conventional interest-based finance is the dominant framework, Islamic banking faces many challenges. This book is the first to addre...
It has taken over five centuries for banking to evolve to its present state, and the concept of "interest" is undoubtedly the life-blood of the whole financial system. Interest was religiously prohibitive for centuries in several faiths, such as Buddhism and Hinduism, Judaism, Christianity and, Islam, and was also strongly opposed by neo-classical economists in the 1930s. Interest (riba) is still outlawed in Islam, with the term "riba-eater" being one of the cruellest insults. Islamic scholars have explained that the current practice of contracts without interest is a result of following the...
It has taken over five centuries for banking to evolve to its present state, and the concept of "interest" is undoubtedly the life-blood of the whole ...
