International Islamic banking in an interest-based world financial system : a theoretical model
Author
Source
International Economic Relations from Islamic Perspectives
Publisher
Islamic Development Bank (IDB) Islamic Research and Training Institute (IRTI)
Publication Date
1992-12-31
Country of Publication
Saudi Arabia
No. of Pages
10
Main Subjects
Financial and Accounting Sciences
Islamic Studies
English Abstract
In this paper the author has tried to highlight the role of Qurud-Hassanah (benevolent or interest-free loans) and Musharakah as methods of financing development by Islamic Bank.
The paper argued that these modes of financing can be used to expand economic activities, for the purpose of increasing income, employment and output.
The Musharakah financing which establishes a real relationship between the clients and the Bank as partner can be utilized as a potential weapon for development of certain key sectors of the economy as it introduces flexibility in the cost of financing and links the use of funds directly to social and economic priorities.
The author has stressed the need to influence the behavior of the clients of the Bank either as savers or investors through the various method of financing so that socio-economic goals of the Islamic economy can be achieved.
Language
English
American Psychological Association (APA)
al-Najjar, Ahmad. 1992-12-31. International Islamic banking in an interest-based world financial system : a theoretical model. International Economic Relations from Islamic Perspectives. , pp.141-150.Jiddah Saudi Arabia : Islamic Research and Training Institute.
https://search.emarefa.net/detail/BIM-778243
Modern Language Association (MLA)
al-Najjar, Ahmad. International Islamic banking in an interest-based world financial system : a theoretical model. International Economic Relations from Islamic Perspectives. Jiddah Saudi Arabia : Islamic Research and Training Institute. 1992-12-31. , pp.141-150.
https://search.emarefa.net/detail/BIM-778243
American Medical Association (AMA)
al-Najjar, Ahmad. International Islamic banking in an interest-based world financial system : a theoretical model. International Economic Relations from Islamic Perspectives. Jiddah Saudi Arabia : Islamic Research and Training Institute. 1992-12-31. , pp.141-150.
https://search.emarefa.net/detail/BIM-778243
Data Type
Book chapters
Notes
Paper Presented at International Economic Relations from Islamic Perspectives, in Tübingen, West Germany from 28 August to 01 September 1988 / 16-20 Muharram 1409H.
Record ID
BIM-778243
