What are the problems or the deficits that are critical in the Islamic Financial or banking sectors?

Posted on August 3rd, 2009 by admin

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Banking


If someone can clarify those problems, and if that one of them is critical to be discussed as PhD research, which needs a profound study of the Islamic Financial (Banking) sectors.

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One Response to “What are the problems or the deficits that are critical in the Islamic Financial or banking sectors?”

  1. rehman vohra, on August 7th, 2009 at 5:18 am Said:

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    I would suggest you visit cimaglobal.com, a UK examining body of professional accountants. They are offering a course in Islamic Banking. If you were to study their syllabus you will get the basic idea of Islamic Banking.

    In Pakistan the pioneer in Islamic Banking is Meezan Bank Limited. I do not its web address but you can goggle it. Also you can visit sbp.gov.pk, web site of the central bank of Pakistan. Here you will find the directives for Islamic Banking.

    There are also UAE based banks such as Bank Al Islami, Dubai Islamic Bank, etc.

    As far as I can recollect the basic problem is the name Islam which is dreaded by the westerners or non muslims. Again the traditional banks are based on interest (usury) which is against the Islamic Laws called Sharia. There has been a lot of discussion on the term usury.

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