Articles
Pakistan: Interest habit hard to break
Addressed are the challenges that slow any transition from conventional banking to Islamic banking in Pakistan. While Pakistan's Shari`a court has ruled that all operations involving interest are forbidden, the government kept the ban from being implemented by an appeal to the Supreme Court that it was not possible to change the financing methods used by the country.
Of mullahs, mosques and millions
This writing examines the burden of being a Muslim in Bradford, England (published in1991). A case-study of IGI Furniture and Al-
Types of business organisation in an Islamic economy
Muhammad Akram Khan reviews Nijat Ullah Siddiqi's <i>Shirka wa Mudarabat Ke Shar'i Usul</i>.
Judaism and Interest
Although in many passages the Old Testament forbids that interest be charged, many instances were this prohibition was disregarded can be found in Jewish history. Many historical explanations can be offered as to why this prohibition was not always followed. Careful attention should be paid to the particular instances when it was, and the laws and transactions developed that offered alternatives to interest, as well as manipulations to avoid the usury law, in order to better understand the consequences of these events.
Islamic banking today: rapid development has made Islamic banks global players
The first modern Islamic bank was founded in Egypt's northern delta region in 1963. The Mit Shamr Savings Bank gave out interest-free loans for efforts whose implementation were good for the society. With the increase in oil wealth amongst OPEC countries in the mid 1970's, the spirit of Islamic economics flourished. The Islamic Development Bank, an organizastion that now has 45 member states, was born out of efforts undertaken at a 1973 meeting of
An interview with Sheikh Saleh Kamel: 'Islam has a complete economic theory' (Special advertising section)
Sheikh Saleh Kamel, president of the Dallah AlBaraka group, also serves on the board of a research center at King Abdulaziz University named after Saleh Abdullah Kamel. The AlBaraka president previously held a post at the Saudi finance ministry. The group he heads holds 38 major world companies. While the ban on interest is often the most popularly identifiable feature of Islamic banking, the religion, Kamel explains, offers a full economic outlook. Zaka, the taxes and alms system, is one that could help end recession, unemployment, and inflation in the modern economic framework.