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People should be flexible enough to learn new things and this is the only key of trying new things. People, who tend to learn and try new things, bring all significant and productive change in environment. That can only save the world from repeating past mistake in future. People learn and try things in their own way and styles. VARK stands for Visual, Aural, Read/Write and Kinesthetic learning styles.
The literature review highlights the nature of Islamic Banking, showing it to be more moral and justice based as against the misconception of it being religion based. This by itself augurs well for world communities that have been cheated of their investments through high risk securities that were based on speculation rather than healthy investments.
The research carried out, though limited in nature, also points to the fact that due to its sharing of risk methods and high collaterals, the Islamic Banking system may be restrictive in a sense, yet it offers means of consolidations of investments as against throwing it away in speculative practices.
Therefore, I really
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(“Islamic banking Essay Example | Topics and Well Written Essays - 5500 words”, n.d.)
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(Islamic Banking Essay Example | Topics and Well Written Essays - 5500 Words)
“Islamic Banking Essay Example | Topics and Well Written Essays - 5500 Words”, n.d. https://studentshare.org/miscellaneous/1564777-islamic-banking.
Causality between Banking Instruments of Islamic and Conventional Banking System: A Case of Malaysia. In Muslim countries, Islamic banking industry has significantly contributed in the process of economic development. The profit and loss sharing concept as an alternative source of banking has added largely to importance of Islamic banking.
According to Mavrakis (2009, pp. 2 – 5), Islamic finance has emphasised on trying to remove completely any interest involved in financial transactions. The Quran, which is the Divine revelation presented to Prophet Mohammed, who is the Prophet of Islam, expressly forbids charging of interest, or riba, and Prophet Mohammad himself emphasised on this as mentioned in the Hadith, which is the other source of Islamic law, the Shariah.
This bank was brought into existence by Ahmed El Najjar’s pioneering efforts. The fundamental principal according to which this bank worked was profit sharing on the basis of Shariah’s non-interest based philosophy. It took only 13 years till 1976 for nine more banks like this to open in Egypt.
In order to provide the mentioned topics above, different studies and empirical evidence have been provided in the report. Islamic Banking a) Before proceeding with the origins of Islamic Banking, it is necessary to be familiar with the definition of Islamic Banking.
More elaborately this report will show the importance of Islamic Banking, development model for a country through Islamic banking.
3) In the next part I discussed about the Islamic Banking in Bangladesh and try to show the situation of Islamic Baking through situation analysis.
Islamic banking has been one of the less popular banking systems in the financial market. It should be noted that even though Moslems accounts for 20% of the total world, the number of Islamic banks in the globe is only a small portion relative to commercial banks.
Through the Islamic financial system there is a facilitation of services such as lending, borrowing and investing on a risk-sharing basis. The Islamic financial system can be called a value-based mechanism and the main target is to ensure “moral and material wellbeing” of the persons as well as the whole community.
Islamic banks prohibit the collection of interest on grounds that money should not be treated as a commodity that can generate profits. The rules that guide Islamic banking tend to be based on certain ethical principles,