Islamic Banking and Finance: New Perspectives on Profit Sharing and Risk

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Munawar Iqbal, David T. Llewellyn
Edward Elgar, Jan 1, 2002 - Business & Economics - 250 pages
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It is a well-known fact that conventional commercial banks provide financial intermediation services on the basis of interest rates on assets and liabilities. However, since interest is prohibited in Islam, Islamic banks have developed several other modes through which savings are mobilized and passed on to entrepreneurs, none of which involve interest. Islamic Banking and Finance discusses Islamic financial theory and practice, and focuses on the opportunities offered by Islamic finance as an alternative method of financial intermediation. Key features of profit-sharing (as opposed to debt-based) contracts are highlighted, and the ways in which they can facilitate improved efficiency and stability of a financial system are explored.

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Contents

Introduction
1
an Islamic perspective
15
a theoretical
40
Copyright

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