Siddiqi, Moin A
July 2002
Middle East;Jul/Aug2002, Issue 325, p34
Focuses on the state of Islamic banking. Restriction of interest-based financing in the Koran; Condemnation of usury in early Jewish and Christian teachings; Embodiment of the principles of ethical and equitable mode of finance in the banking system.


Related Articles

  • INTEREST-FREE ISLAMIC BANKING: IDEALS AND REALITY. Zaman, M. Raquibuz; Movassaghi, Hormoz // International Journal of Finance;2002, Vol. 14 Issue 4, p2428 

    This paper reexamines the concept of usury (riba) in Islam and tries to show that neither all the practices of conventional banks are usurous, nor the financial instruments used by today's Islamic banks are significantly different from those of conventional banks. The study suggests ways to...

  • Understanding Interest Free Banking: Interview With A Pakistani Banker. Firoz, Nadeem M. // Ethics & Critical Thinking Journal;2012, Vol. 2012 Issue 3, p85 

    This research paper describes how Islamic laws illustrated in the Quran, the Holy Book of Muslims, affects the Islamic banking system. The basic concept of interest free banking rests on the principle that greed is evil and credit is a human right (Usury 2010). Thus, according to the Quran, the...

  • Chinks in the capitalism system -- the pertinence of Islamic finance. Yahya, M. H.; Muhammad, J.; Abdullah, A.; Nasir, A. M. // Journal of International Business & Cultural Studies;Feb2013, Vol. 7, p192 

    Buying and selling occurs when a seller provides an item to a buyer at a price agreed by both parties. On the other hand, riba (usury or interest) is when someone gives a certain capital to another person with a condition that it is to be returned with a certain gain. Interest (usury),...

  • Interest-free Finances/Islamic Banking: A Contemporary Challenge for Ahlu-l-Kitab (Christians and Jews) and Muslims in Nigeria. Shittu, Huud // Journal of Islamic Banking & Finance;Apr-Jun2014, Vol. 31 Issue 2, p41 

    Interest-free banking has polarized citizenry in Nigeria on the basis of sentiment and ignorance over interest/usury and the policy of the Central Bank of Nigeria (CBN). On this background, this paper examines the challenge of interest-free finance/banking in Nigeria. In achieving this aim,...

  • Interest Based Financial Intermediation: Analysis & Solutions. Shaikh, Salman Ahmed // Journal of Islamic Banking & Finance;Oct-Dec2012, Vol. 29 Issue 4, p50 

    Interest is prohibited in all monotheist religions. Apart from religion, interest is also regarded as unjust price of money capital by pioneer secular philosophers as well as some renowned economists. However, it is argued by some economists that modern day, market driven interest rate in a...

  • The Principles and Motives of Islamic Banking in Pakistan. Firoz, Nadeem M. // Insights to a Changing World Journal;2012, Issue 3, p87 

    Charging interest on borrowed capital has been a legitimate business for centuries. Initially, most of the religions of the world had a ban on charging such interest for one reason or another. This classical view against usury serves as the foundation for the objections raised by Islam as...

  • IT'S NOT JUST THE VEIL. KEATING, JOSHUA E. // Foreign Policy;May/Jun2011, Issue 186, p41 

    The article gives brief information about Muslim traditions in modern society. Islamic clothing for women is noted along with the so-called burqini bodysuit for swimming. Islam's ban on usury and the growth of an Islamic banking sector that is sharia-compliant by offering interest-free loans are...

  • Bringing Muslim nations into the global century. Rauf, Feisal Abdul // Fortune International (Europe);10/18/2004, Vol. 150 Issue 7, p28 

    This article examines obstacles to bringing Muslim nations into the global economy. Imagine the U.S. economy without home mortgages or car loans. Yet today that unthinkable economic reality is the norm in many Muslim nations. The absence of such simple, powerful mechanisms for fostering...

  • Editor's Note.  // Journal of Islamic Banking & Finance;Jul-Sep2012, Vol. 29 Issue 3, p9 

    An introduction is presented in which the editor discusses various reports within the issue on topics including practices of insurance operators , Islamic banking and Nigerian economy.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics