University of Wales - Cardiff

This thesis examines the theory and principles of profit-sharing in the Islamic system of finance, and compares it to similar practices within non-Islamic systems. The initial chapters highlight the methodology and objectives of the work, and offer rationales for the existence of profit-sharing, the use of interest rates fixed in advance, and the rejection of riba .

The work explores the rationale and underlying principles of the Islamic concept of profit-sharing. Using concepts originating both in and out of

Religious or shari`a control in Islamic banks is examined. Shari`a control committees and the their effects on the behavior of clients, shareholders, investors, etc. are considered. A survey questionnaire and interviews related to practices and profiles of institutions and clients is the core of the research effort.

This thesis aims to shed light on the problem of a lack of adequate skill formation in Saudi Arabia, a largely unexplored area of research. There is too much dependence on foreign skilled labor in Saudi Arabia; there needs to be a better system of training indigenous workers. This study utilizes archives, interviews, and surveys as foundations for policy recommendations to Saudi officials. In addition, this study addresses the skill formation and job training problem within the context of Islamic economics, as opposed to utilizing a purely western capitalist method of analysis.