Islamic Banking: True Modes of Financing By Dr. Shahid Hasan Siddiqui, Eminent Pakistani Banker & Economist. Introduction Prohibition of interest is ordained in Islam in all forms and intent. This Prohibition is strict, absolute and unambiguous. The Holy Qur’an in verse 278 of Surah Al-Baqarah states: “O ye who believe! […]
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Shariah Requirements for conventional banks By Sheikh Nizam Yaquby Shariah Scholar Bahrain Many conventional banks and financial institutions are increasingly becoming interested in Islamic finance and investment. How can these conventional banks and institutions enter this market? Is it possible or not? This paper is an initial attempt to lay […]
Read moreIslamic Banking vs. Conventional Banking Islamic Banking vs. Conventional Banking (Foreign Exchange Mode) From the view point of Islamic “Shariah’ (law), in order to be justified as an Islamic way of dealing with financial transactions the banking systems has to avoid interest. Consequently, financial intermediation in Islamic banking between the bank […]
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