Review on Concept of Islamic Banking
Keywords:Islamic Banking, Islamic Finance, Shariah, Islamic Law
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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This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
This is an open access article under the CC BY-NC-ND license Creative Commons Attribution-Noncommercial 4.0 International (CC BY-NC 4.0).