Islamic Banking
Summary:
Islamic banks are prohibited from charging or paying interest, and thus can operate only on the basis of profit-sharing arrangements. This paper provides a brief survey of the theory and practice of Islamic banking. It covers developments in Islamic banking since the mid-1970s, how such banks operate, and the analytical underpinnings of a financial system based on Islamic principles. Finally, the future of Islamic banking is assessed.
Series:
Working Paper No. 1991/088
Subject:
Banking Commercial banks Financial institutions Financial instruments Financial services Islamic banking
English
Publication Date:
September 1, 1991
ISBN/ISSN:
9781451851069/1018-5941
Stock No:
WPIEA0881991
Pages:
8
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