Islamic banking is not a totally new concept in the world. However, there is still a dearth of basic as well advance level literature on different aspects of Islamic banking. This monograph is based on extensive literature review, discussions with eminent scholars and discussion forums on different aspects of Islamic banking. We have tried to cover each related topic in easy an understanding way, so that most of readers can benefit from it. A general concept is added for conventional banking, and detailed concepts and practical implications of Islamic banking are included. We have used terms...
Islamic banking is not a totally new concept in the world. However, there is still a dearth of basic as well advance level literature on different asp...
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 ...
