The objective of setting up Islamic banks, their characteristics, resources and legitimate framework -- some questions answered

The principal goal of founders of Islamic banks is obedience to Allah in economic life. The high ethical level of their dealings distinguishes Islamic banks. The absence of interest in the Islamic banking system spurs greater investment and aids overall development. A connection exists between economic and social progress. Society benefits from the alms paid in Islam, which can be used to build factories. Among the consequences of the implementation of an Islamic banking system are: the achievement of justice and the end of exploitation; a belief in work as the means of income; the finding of an alternative to interest; and the end of Muslims' conflict between belief and practice. Islamic banks have both human and regulatory components. They draw money through savings accounts, current accounts, and other means. They invest the funds in other corporations, mudaraba ventures, and specific projects. The principal characteristics of Islamic banks are: their avoidance of interest;