+- Accountancy Forum (https://www.accountancy.com.pk/forum)
+-- Forum: The Profession (https://www.accountancy.com.pk/forum/forumdisplay.php?fid=4)
+--- Forum: Students (https://www.accountancy.com.pk/forum/forumdisplay.php?fid=13)
+--- Thread: what is islamic banking (/showthread.php?tid=3718)
what is islamic banking - asad.ahmad - 08-20-2006
hi any one here can clearify that what is islamic banking with a practical example
- smurfyazhar - 09-01-2006
search on GOOGLE!!!!
- Sahar_M - 09-05-2006
|
- hanifasif - 09-05-2006
Islamic banking is just a misnomer. I am in Saudi Arabia for the last many years and there is not a single, I REPEAT , a single bank which follows Islamic mode of financing. People talk about Malaysian Banking models but none has ever been implemented else where NOT at least in K.S.A.
So theoretically you might find it in some books and if you find any practical example do let me know
- Sahar_M - 09-05-2006
i hv herd tht theres only one geniune islamic bank n tht is in jeddah (dont remb the name ) ,,, is there any truth to it ?
- accountingunlimited - 09-06-2006
Hello
Whether you may like or not, there is no concept of Banking in Islam. Islam believe in Business by way of "Musharika" & "Modaraba".Banking cannot be done without "interest" or "Riba". People and so called mufti's are changing the name of interest and other terms and implementing the normal banking system as "Islamic Banking".
Note These are my personal views.
- Taxed to Kill - 09-06-2006
I've heard that Maulana Taqi Usmani who is former chief justice of shariat court had devised a strategy to change the whole banking system of pakistan to Islamic banking.I ve heard from more than one authentic sources (Ulema) that he is working with some of Islamic banks.He is in the shariat board of Bankislami.
visit www.bankislami.com.pk .
I myself want to research in this subject as Maulana Taqi Usmani is regarded as highly reliable.
To summarize,one has to go in depth to understand what the concepts are and we should not reject outrightly.