Articles

The Islamic banking movement has gone through three phases: expansion, consolidation, and acceptance. The momentum of Islamic banks has led to their status of 'cautious respect' on the international scene. This respect has been earned despite the skepticism of Western bankers. Many Muslims are today showing an increasing level of confidence in the Islamic banking system. It therefore follows that a movement is developing to create an integrated network of financial services based on

Westerners who do not fully understand the Islamic banking system view its institutions critically. They do not understand the financial constraints imposed by the principles in the Qur'an.

An analysis of the development of the Bahrain OBU (offshore banking unit) and of the regional impact of the banking services that it provides for the Persian Gulf area. A look at the role of Bahrain in the Eurocurrency market. A principal concern is the development of the regional banking system, with particular emphasis on the banks of Saudi Arabia, which provide the mainstay of the OBU business.

There is a need for the development of an Industrial International Islamic Bank. Such an institution will mitigate the caution with which Islamic banks regard the financing of development projects and industrial enterprises. Islamic banks play a role in the development and financing of projects being developed within

Western corporations ought to be able to offer Muslims an insurance service that is not contrary to Islamic law that at the same time yields a financial profit for the company. Insurance is a need of Muslims just as it is of the world's non-Muslims. Before the advent of

One may delineate the qualities of interest based banking and of the institution of usury without determining whether interest is permissible in Shari`a. Usury in pre-Islamic Arabia, which was a moral rather than economic question for the inhabitants, was detrimental to the society. At least three Qur'anic passages stand against usury. Though usury is exploitative, can the same can be said of the modern banking system?