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Topic: Islamic banking

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Islamic economics

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Investment bank

Islamic Development Bank

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	Islamic banking - Wikipedia, the free encyclopedia
		Islamic banking refers to a system of banking or banking activity which is consistent with Islamic law (Sharia) principles and guided by Islamic economics.
		Islamic banking has the same purpose as conventional banking except that it claims to operate in accordance with the rules of Shariah, known as Fiqh al-Muamalat (Islamic rules on transactions).
		A contract under which an Islamic bank provides equipment, building or other assets to the client against an agreed rental together with a unilateral undertaking by the bank or the client that at the end of the lease period, the ownership in the asset would be transferred to the lessee.
	en.wikipedia.org /wiki/Islamic_banking (3308 words)

	USC-MSA Compendium of Muslim Texts
		The musharaka principle is invoked in the equity structure of Islamic banks and is similar to the modern concepts of partnership and joint stock ownership.
		Islamic banks have also been resorting to purchase and resale of properties on a deferred payment basis, which is termed bai' muajjal.
		The early contributions on the subject of Islamic banking were somewhat casual in the sense that only passing references were made to it in the discussion of wider issues relating to the Islamic economic system as a whole.
	www.usc.edu /dept/MSA/economics/islamic_banking.html (9496 words)

	Islamic Banking
		As in the case of conventional banks, cheque books are issued to the current ac count deposit holders and the Islamic banks provide the broad range of payment facilities clearing mechanisms, bank drafts, bills of exchange, travellers cheques, etc. (but not yet, it seems, credit cards or bank cards).
		Irshad (l964) also spoke of mudaraba as the basis of Islamic banking, but his concept of mudaraba was quite different from the traditional one in that he thought of capital and labour (including entrepreneurship) as having equal shares in output, thus sharing the losses and profits equally.
		The only exception was the Faisal Islamic Bank of Sudan (FIBS) whose market share had shrunk from l5 per cent in l982 to 7 per cent in l986, but Nienhaus claims that the market shares lost by FIBS were won not by conventional banks but by newer Islamic banks in Sudan.
	www.aghayan.com /islbank.htm (9280 words)

	index
		Islamic banking is now one of the fastest growing sectors of the financial market place, largely driven by the new wealth of the Middle East and by the need for Muslims, representing one-fifth of the world’s population, to find islamically acceptable financial products.
		However Islamic finance, based as it is on the fact that financial activities have to be interest free, poses many challenges for anyone seeking to unravel its workings.
		However the pace at which Islamic banking and finance training courses are being developed, to match this growth in demand, is slow, very slow, with the availability of world class quality training in the subject area lagging far behind that of demand.
	www.islamicbankingcourses.com (557 words)

	Islamic Banking
		Islamic banks, in keeping with modern times, have extended this facility to manufactures as well.
		This is contrary to the expectation that the Islamic banks would be active mainly in the field of corporate financing on a participation basis.
		Islamic banks are expected to be more enterprising than their conventional counterparts.
	saif_w.tripod.com /explore/practical/pr_banking.htm (9538 words)

	USC-MSA Compendium of Muslim Texts
		Islamic banking, based on the Qur'anic prohibition of charging interest, has moved from a theoretical concept to embrace more than 100 banks operating in 40 countries with multi-billion dollar deposits world-wide.
		Islamic banking is widely regarded as the fastest growing sector in the Middle Eastern financial services market.
		This is unlike the interest-based commercial banking system, where all the pressure is on the borrower: he must pay back his loan, with the agreed interest, regardless of the success or failure of his venture.
	www.usc.edu /dept/MSA/economics/nbank1.html (1225 words)

	Islamic Banking
		Under this scheme, the bank estimates the expected rate of return on the specific project it is asked to finance and provides financing on the understanding that at least that rate is payable to the bank.
		Here establishing Islamic banks involves conformation to the existing laws of the concerned country which generally are not conducive to PLS type of financing in the banking sector.
		Hence the banks confined their operations mostly to these modes, particularly the former, after changing the simple buy-back agreement (prescribed by the State Bank) to buy-back agreement with a mark-up, as otherwise there was no incentive for them to extend any finances.
	www.islamicbanking.nl /chap4.html (9032 words)

	HISTORY OF ISLAMIC BANKING (Site not responding. Last check: 2007-10-22)
		Islamic accounting, an essential tool for the success of Islamic banks, is said to have been developed contemporaneously at the University of Cairo (Crane, p.
		Expansion-1976 to the early 1980s: Islamic banking spread from the.;: Arabian Gulf eastward to Malaysia, and westward to England.
		Islamic banking operations are not limited to Arab soil, or Islamic countries, but are spreading throughout the world.
	www.islamic-finance.net /islamic-ethics/article-12/article12-2.html (434 words)

	Finance - Islamic Banking - References (Site not responding. Last check: 2007-10-22)
		In 1984 the Islamic Bank of Bangladesh offered rates of return ranging from 4.95 per cent to l4.l3 per cent.
		The Faisal Islamic Bank of Egypt, Cairo, gave a 9 per cent rate of return on deposits in the same year (Afkar Inquiry, December 1985).
		The market shares of the Islamic banks are close to 20 per cent in Egypt, Kuwait and Sudan and roughly l0 per cent in Jordan and Qatar.
	islamicity.com /finance/IslamicBanking_References.htm (1220 words)

	ISLAMIC BANKING Bibliography
		DiVanna, Joseph, A., Understanding Islamic Banking: The Value Proposition that Transcends Cultures, Cambridge: Leonardo and Francis Press, 2006-08-28
		'Mudaraba banking and takaful insurance: the question of "Islamic Banks", their significance and possible impact', in Jan Selmer, and Loong Hoe Tan, Economic Relations between Scandinavia and ASEAN: Issues on Trade, Investment, Technology Transfer and Business Culture, University of Stockholm and Institute of South-east Asian Studies, Singapore.
		An Outline of `Interestless Banking', Raihan Publica tions, Karachi.
	www.gdrc.org /icm/islamic-banking.html (946 words)

	Islamic Banking magazine, Islamic Finance magazine, Banking magazine, Finance magazine, Islamic Banking and Finance ...
		Islamic venture capital investment specialist Venture Capital (VC) Bank is earmarking a US$250m (about £142,138,155) venture capital fund for investment in small and medium-sized enterprises (SMEs) in the GCC and MENA regions.
		The agency warned it won’t be long before multinational banks consolidate their foothold in the region, making it more difficult for the smaller banks to remain competitive.
		SandP pointed to three ways to getting into the Islamic banking market: by creating separate Islamic branches or accounts, or becoming a fully Shariah-compliant financial institution, or by establishing an Islamic subsidiary.
	www.islamicbankingandfinance.com (522 words)

	Islamic Publications
		Books written on Islamic Banking and Economic Systems.
		Includes lectures on islamic banking, islamic economic systems, riba its prohibition and classification, islamic contract and islamic modes of financing and their applications..
		The book is about the Social and economic order from the Islamic point of view.
	www.islamic-publications.com /banking.asp (108 words)

	Finance - Islamic Banking - Rationale (Site not responding. Last check: 2007-10-22)
		Others, anxious to vindicate the Islamic position on interest, have argued that interest is not very effective as a monetary policy instrument even in capitalist economies and have questioned the efficacy of the rate of interest as a determinant of saving and investment (Ariff 1982).
		There have been suggestions that profit-sharing can be a viable alternative (Kahf 1982a and 1982b).
		One dissenting view is that the substitution of profit-sharing for interest as a resource allocating mechanism is crude and imperfect and that the institution of interest should therefore be retained as a necessary evil (Naqvi 1982).
	www.islamicity.com /finance/IslamicBanking_Rationale.htm (1029 words)

	Islamic Banking Network
		This site, ISLAMIC BANKING NETWORK.COM,LARIBA.COM and or AMERICAN FINANCE.COM are not affiliated with any of the the financial and other institutions whose links are provided here.
		These links, the sites they link to, and any related trademarks, service marks, logos and names are the properties of their respective owners and, they are provided only as a service to our visitors looking for more information on Islamic finance and other financial services.
		Our Aim is to Publicize for an Alternative Banking, Financing and Investing Economic System for ALL People of ALL Faiths.
	www.islamicbankingnetwork.com (226 words)

	Islamic Banking & Finance; Banking & Inflation
		Participatory Financing through Investment Banks and Commercial Banks
		Interest, Usury, Riba and the Operational Costs of a Bank
		For further information or discussions please write or e-mail to the author:
	www.islamicbanking.nl (38 words)

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