Search results
Results from the WOW.Com Content Network
Most Islamic finance is in banking, but non-banking finance such as sukuk, equity markets, investment funds, insurance (takaful), and microfinance, [254] [242] is also fast-growing, [254] [242] and as of 2013 represented about one-fifth of total assets in Islamic finance.
Profit and Loss Sharing (also called PLS or participatory banking) refers to Sharia-compliant forms of equity financing such as mudarabah and musharakah.These mechanisms comply with the religious prohibition on interest on loans that most Muslims subscribe to.
Banking makes up most of the Islamic finance industry. Banking products are often classified in one of three broad categories, [44] [45] two of which are "investment accounts": [46] [47] [Note 4] Profit and loss sharing modes—musharakah and mudarabah—where financier and the user of finance share profits and losses, are based on "contracts ...
A student in finance, management, law or economics aiming to learn about Islamic finance needs this side of legal theory in order to understand the peculiarity of this sector. All the particular aspects of Islamic finance in all these sides (legal, accounting, financial) are based on the legal particularities of contracts in traditional Islamic ...
interest is unnecessary in a contemporary economy because investment capital can be generated justly by the sharing of risks and profits between financiers and entrepreneurs (and when that is impractical other financing of commodity and product purchases); this Islamic system of banking and finance will lead to greater prosperity and more human ...
Its different annual editions have been sponsored by major financial institutions like Dubai Islamic Bank, CIMB Islamic, Commerzbank, ITS, Hong Leong Islamic Bank, Abu Dhabi Commercial Bank, National Commercial Bank, and others. GIFR 2014 was launched at the Global Donors Forum held at Washington, D.C., on April 13–16, 2014.
A supporter of Islamic economics describes a "major difficulty" faced by Islamic reformers of Islamic economics and pointed out by other authors, namely that because a financial system is an "integrated and coherent structure", to create an Islamic system "based on trust, community and no interest" requires "changes and interventions on several ...
The ITFC's trade finance arm is responsible for providing Shariah-compliant trade financing for both public and private sector entities in the OIC member countries, with a particular focus on financing OIC intra-trade. The ITFC provides direct financing and also works with other international financial institutions to support OIC trade and ...