Review on Concept of Islamic Banking

Authors

  • Shamim Ahmad Farooqui Assistant Professor, Excellent Law College, KOTA Rajasthan

DOI:

https://doi.org/10.31305/rrijm.2022.v07.i05.019

Keywords:

Islamic Banking, Islamic Finance, Shariah, Islamic Law

Abstract

Islamic banking is a form of banking that adheres to Islamic law. Muslim banks have been more successful because they have not charged the public interest rates and have invested in ethical resources. A common way to manage money that is economically conservative and adheres to a set of moral principles, Islamic banking also draws from the 'Shari'ah'. There are two central principles of Islamic banking: that lenders and borrowers share the profit or loss, and the prohibition of paying or accepting interest. Studies have shown that growth in Islamic banking is correlated with economic growth, even when other factors are controlled for. This paper explores the concept of the Islamic Banking, its concept, process and more.

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Published

16-05-2022

How to Cite

Farooqui, S. A. . (2022). Review on Concept of Islamic Banking. RESEARCH REVIEW International Journal of Multidisciplinary, 7(5), 133–137. https://doi.org/10.31305/rrijm.2022.v07.i05.019