Islamic Banking
September 1, 1991
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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.
Subject: Banking, Commercial banks, Financial institutions, Financial instruments, Financial services, Islamic banking
Keywords: asset positions of bank, assets of the bank, banking operations, Commercial banks, interest, investment deposit, Islamic banking, return, such bank, WP
Pages:
8
Volume:
1991
DOI:
Issue:
088
Series:
Working Paper No. 1991/088
Stock No:
WPIEA0881991
ISBN:
9781451851069
ISSN:
1018-5941
