International Islamic Financial Market(IIFM) International Islamic Financial Market (IIFM): Established in 2001 in Manama, Bahrain to develop and regulate an International Financial market bašed on Shari’ah Rules and Principles. IIFM which is based in Manama and hosted by the Central Bank of Bahrain (CBB), was established in 2002 under the […]
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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 […]
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The Role of Central Banks in Islamic Banking Dr. Iraj Toutounchian Prof. C. G. Harcourt: “…ideologies…affect the topics discussed, the manner of discussion, the factors included or left out or inadequately stressed in arguments, comments, and models and attitudes shown, sympathetic or hostile,…to past and contemporary economists’ works and views. […]
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Islamic Banking in all over India Islamic banking is a banking which follows the principles of islamic laws (Shariah) which prohibits interest based banking‘ and permits only profit sharing based banking‘. The concept is based on a verse of the Holy Quran that says “Allah has allowed only legitimate trade […]
Read moreIslamic Banking- Bai Mechanism Islamic Banking- Bai Mechanism: Bai Mechanism Bai means purchase and sale of goods in cash or on credit or in advance at an agreed upon profit, which may or may not be disclosed to the client. Majority of investments of Islamic banks are extended through this […]
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