Monday, October 19, 2009

Islamic Banking

Islamic banking is a banking system that is based on the principles of Islamic law (also known as Sharia, or Shariah) and guided by Islamic economics. Two basic principles behind Islamic banking are the sharing of profit and loss and, significantly, the prohibition of the collection and payment of interest. Collecting interest is not permitted under Islamic law.

Here's an example of how the Islamic banking system uses methods of profit/loss sharing to facilitate financial transactions: for some types of loans, the borrower only needs to pay back the amount owed to the lender, but the borrower can choose to pay the lender a small amount of money to serve as a gratuity.



Since this system of banking is grounded in Islamic principles, all the undertakings of the banks follow Islamic morals. Therefore, it could be said that financial transactions within Islamic banking are a culturally-distinct form of ethical investing (for example, investments involving alcohol, gambling, pork, etc. are prohibited). The Dubai Islamic Bank has the distinction of being the world's first full-fledged Islamic bank, formed in 1975
 
Here's an example of how the Islamic banking system uses methods of profit/loss sharing to facilitate financial transactions: for some types of loans, the borrower only needs to pay back the amount owed to the lender, but the borrower can choose to pay the lender a small amount of money to serve as a gratuity.


Here are some links on Islamic Finance:
Working With Islamic Finance

Zeti Akhtar Aziz: Building a progressive Islamic banking sector - charting the way forward

Air Gear

Loading... media
[ Air Gear 1 ] [ Air Gear 2 ] [ Air Gear 3 ] [ Air Gear 4 ] [ Air Gear 5 ] [ Air Gear 6 ] [ Air Gear 7 ] [ Air Gear 8 ] [ Air Gear 9 ] [ Air Gear 10 ] [ Air Gear 11 ] [ Air Gear 12 ] [ Air Gear 13 ] [ Air Gear 14 ] [ Air Gear 15 ] [ Air Gear 16 ] [ Air Gear 17 ] [ Air Gear 18 ] [ Air Gear 19 ] [ Air Gear 20 ] [ Air Gear 21 ] [ Air Gear 22 ] [ Air Gear 23 ] [ Air Gear 24 ] [ Air Gear 25 ] [ Air Gear 26 ] [ Air Gear 27 ] [ Air Gear 28 ] [ Air Gear 29 ] [ Air Gear 30 ] [ Air Gear 31 ] [ Air Gear 32 ] [ Air Gear 33 ] [ Air Gear 34 ] [ Air Gear 35 ] [ Air Gear 36 ] [ Air Gear 37 ] [ Air Gear 38 ] [ Air Gear 39 ] [ Air Gear 40 ] [ Air Gear 41 ] [ Air Gear 42 ] [ Air Gear 43 ] [ Air Gear 44 ] [ Air Gear 45 ] [ Air Gear 46 ] [ Air Gear 47 ] [ Air Gear 48 ] [ Air Gear 49 ] [ Air Gear 50 ] [ Air Gear 51 ] [ Air Gear 52 ] [ Air Gear 53 ] [ Air Gear 54 ] [ Air Gear 55 ] [ Air Gear 56 ] [ Air Gear 57 ] [ Air Gear 58 ] [ Air Gear 59 ] [ Air Gear 60 ] [ Air Gear 61 ] [ Air Gear 62 ] [ Air Gear 63 ] [ Air Gear 64 ] [ Air Gear 65 ] [ Air Gear 66 ] [ Air Gear 67 ] [ Air Gear 68 ] [ Air Gear 69 ] [ Air Gear 70 ] [ Air Gear 71 ] [ Air Gear 72 ] [ Air Gear 73 ] [ Air Gear 74 ] [ Air Gear 75 ] [ Air Gear 76 ] [ Air Gear 77 ] [ Air Gear 78 ] [ Air Gear 79 ] [ Air Gear 80 ] [ Air Gear 81 ] [ Air Gear 82 ] [ Air Gear 83 ] [ Air Gear 84 ] [ Air Gear 85 ] [ Air Gear 86 ] [ Air Gear 87 ] [ Air Gear 88 ] [ Air Gear 89 ] [ Air Gear 90 ] [ Air Gear 91 ] [ Air Gear 92 ] [ Air Gear 93 ] [ Air Gear 94 ] [ Air Gear 95 ] [ Air Gear 96 ] [ Air Gear 97 ] [ Air Gear 98 ] [ Air Gear 99 ] [ Air Gear 100 ]

One Piece (Latest!!!)

Naruto (Latest!!!)

Bleach (Latest!!!)