Islamic Banking and Finance: Fundamentals and Contemporary Issues

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iv © Islamic Development Bank, 2007 Islamic Research & Training Institute First Published 1427H (2007) Islamic Research and ...

v Foreword vii Acknowledgements ix An Overview Salman Syed Ali and Ausaf Ahmad 1 Fundamentals 1 Islamic Banking and Finance: Phi ...

vi 7 The Attitude of Bank Customers and Professional Bankers Towards Islamic and Conventional Banks in Bangladesh Mahmood Ahmad ...

vii Foreword Islamic finance is growing in various parts of the world. It has moved from a mere theoretical concept to a practic ...

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ix Acknowledgements We would like to acknowledge the joint efforts of IRTI and Universiti Brunei Darussalam in organizing the co ...

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Salman Syed Ali^ ∗ and Ausaf Ahmad ** Background Islamic jurisprudence (Shari[ah) explicitly prohibits interest (riba) in all it ...

Salman Syed Ali & Ausaf Ahmad − 2 − compliant savings and investments scheme for prospective pilgrims (hujjaj) called Tabung ...

An Overview − 3 − between Islamic and conventional finance in the future. There is a need to strengthen academic research in thi ...

Salman Syed Ali & Ausaf Ahmad − 4 − Umer Chapra discusses the economic case against interest and asks why should we try to r ...

An Overview − 5 − financial contracts (such as contracts involving gharar and gambling etc.); and in negation of unjust conditio ...

Salman Syed Ali & Ausaf Ahmad − 6 − that most of the theoretical and applied work so far has been confined to Islamic financ ...

An Overview − 7 − A useful first inquiry in this direction would be to assess how relevant for Islamic banks are the causes of f ...

Salman Syed Ali & Ausaf Ahmad − 8 − banking services, protect capital, provide humanitarian and social services, as well as ...

An Overview − 9 − In contrast to collecting deposits as loans or investment (in mudarabah), it appears that Islamic banks in Ban ...

Salman Syed Ali & Ausaf Ahmad − 10 − business, besides imposing control and supervision on the affairs of the Islamic banks. ...