Home Page

Finance Information & Services

4/23/2014

 E D U C A T I O N
Qur'an
Sunnah
Audio
Resources
Unlawful Business
Tutorials
 
 B A N K I N G
Bank Accounts
Credit Cards
Debit Cards
Islamic Banking
 
 L O A N S
Loans/Financing
Mortgage
 
 I N V E S T M E N T
Mutual Funds
Critique of DJ Companies
Critique of Industries
Stocks
 
 I N S U R A N C E
Insurance
 



Submit Your Email To Receive iFinance News


Islamic Banking


Evolution | Rationale | Anatomy | Literature: Theory 
 Literature: Practice | Conclusion | Glossary  
Appendix: Islamic Financial Institutions
| References


References

Abdallah, A., 1987. 'Islamic banking', Journal of Islamic Banking and Finance, January March, 4(1): 3156.

Abdeen, A.M. and Shook, D.N., 1984. The Saudi Financial System, J. Wiley and Sons, Chichester.

AbdelMagib, M.F., 1981. 'Theory of Islamic banks: accounting implications', International Journal of Accounting, Fall: 78102.

Aftab, M., 1986. 'Pakistan moves to Islamic banking', The Banker, June: 5760.

Ahmad, Sheikh Mahmud, 1952. Economics of Islam, Lahore.

____, n.d. 'Interest and Unemployment', Islamic Studies, Islamabad, VIII (l): 946.

AlArabi, Mohammad Abdullah, 1966. 'Contemporary banking transactions and Islam's views thereon', Islamic Review, London, May 1966: l0l6.

AlJarhi, Ma'bid Ali, 1983. 'A monetary and financial tructure for an interest free economy, institutions, mechanism and policy', in Ziauddin, Ahmad et al. (eds.), Money and Banking in Islam, International Centre for Research in Islamic Economics, Jeddah, and Institute of Policy Studies, Islamabad.

Ali, M. (ed.) 1982. Islamic Banks and Strategies of Economic Cooperation, New Century Publishers, London.

____ (ed.) 1984. Papers on Islamic Banking, New Century Publishers, London.

Ariff, M. 1982. 'Monetary policy in an interestfree Islamic economy nature and scope' in M. Ariff, (ed.), Monetary and Fiscal Economics of Islam, International Centre for Research in Islamic Economics, Jeddah.

____ 1988. Islamic Banking in Southeast Asia, Institute of Southeast Asian Studies, Singapore.

Bruce, N.C., 1986. 'Islamic banking moves east', Euromoney, July: 1425.

Chapra, M. Umer, 1982. 'Money and banking in an Islamic economy' in M Ariff (ed.), above.

____ 1985. Toward a Just Monetary System, The Islamic Foundation, Leicester.

Choudhury, Masul Alam, 1986. Contributions to Islamic Economic Theory: A Study in Social Economics, St Martin Press, New York.

Council of Islamic Ideology (CII), Pakistan, 1983. 'Elimination of interest from the economy', in Ziauddin, Ahmed et al. (eds.).

ElAsker, A.A.F., 1987. The Islamic Business Enterprise, Croom Helm, London.

ElDin, A.K., 1986. 'Ten years of Islamic banking', Journal of Islamic Banking and Finance, July-September, 3(3):4966.

Halim, Abdul, 1986. 'Sources and uses of funds: a study of Bank Islam Malaysia Berhad,' paper presented to the Seminar on Developing a System of Islamic Financial Instruments, organized by the Ministry of Finance Malaysia and the Islamic Development Bank, Kuala Lumpur.

Hjarpe, Jan, 1986. 'mudaraba banking and takaful insurance: the question of "Islamic Banks", their significance and possible impact', in Jan Selmer, and Loong Hoe Tan, Economic Relations between Scandinavia and ASEAN: Issues on Trade, Investment, Technology Transfer and Business Culture, University of Stockholm and Institute of Southeast Asian Studies, Singapore.

Homoud, S.H., 1985. Islamic Banking, Arabian Information, London.

Huq, Azizul, 1986. 'Utilization of financial investments: a case study of Bangladesh', paper submitted to the Seminar on Developing a System of Islamic Financial Instruments, organized by the Ministry of Finance Malaysia and the Islamic Development Bank, Kuala Lumpur.

Iqbal, Zubair and Mirakhor, Abbas, 1987. Islamic Banking, International Monetary Fund Occasional Paper 49, Washington D.C.

Irshad, S.A., 1964. InterestFree Banking, Orient Press of Pakistan, Karachi.

Kahf, Monzer, 1982a. 'Saving and investment functions in a twosector Islamic economy', in M. Ariff (ed.) , above.

____ 1982b. 'Fiscal and monetary policies in an Islamic economy', in M. Ariff (ed.),above.

Karsten, I., 1982. 'Islam and financial intermediation', IMF Staff Papers, March, 29(1):10842.

Khan, Abdul Jabbar, 1986. 'Noninterest banking in Pakistan: a case study', paper presented to the Seminar on Developing a System of Islamic Financial Instruments, organized by the Ministry of Finance Malaysia and the Islamic Development Bank, Kuala Lumpur.

Khan, M. Fahim, 1983. 'Islamic banking as practised now in the world' in Ziauddin, Ahmad et al. (eds.).

Khan, M. S.,1986. 'Islamic interestfree banking', I M F Staff Papers, March, 33(1):127.

____, 1987 'Principles of monetary policy in an Islamic framework', paper presented to the International Institute of Islamic Economics, Islamabad, Pakistan, July.

____, and Mirakhor, A., 1986. 'The framework and practice of Islamic banking', Finance and Development, September.

____ and ____, 1987 Theoretical Studies in Islamic Banking and Finance (Book Distribution Centre, Houston.

____ and ____ forthcoming (1988). 'The financial system and monetary policy in an Islamic economy', Journal of Research in Islamic Economics.

Khan, Muhammad Akram, 1968. 'Theory of employment in Islam', Islamic Literature, Karachi, XIV (4): 5l6.

____ n.d. 'International monetary crisis, causes and cure', The Criterion, Karachi, 6 (2): 519.

Khan, W.M., 1985. Towards an InterestFree Islamic Economic System, The Islamic Foundation, Leicester.

Man, Zakariya, 1988. 'Islamic banking: the Malaysian experience', in M. Ariff (ed.), above.

Mannan, M.A., 1970. Islamic Economics, Lahore.

Mastura, Michael O., 1988. 'Islamic banking: the Philippine experience', in M. Ariff (ed.), above.

Mirakhor, Abbas, 1986. 'Some theoretical aspects of an Islamic financial system', paper presented at a Conference on Islamic Banking sponsored by the Central Bank of the Islamic Republic of Iran, Tehran, 1114 June.

Mohsin, M., 1982. 'Profile of ribafree banking', in M. Ariff (ed.), above. Naqvi, S.N.H., 198l. Ethics and Economics: An Islamic Synthesis, The Islamic Foundation, Leicester.

____, 1982. 'Interest rate and intertemporal allocative efficiency in an Islamic economy', in M. Ariff (ed.), above.

Naughton, S.A.J. and Tahir, M.A., 1988. 'Islamic banking and financial devel opment', Journal of Islamic Banking and Finance, 5 (2).

Nienhaus, V., 1983. 'Profitability of Islamic PLS banks competing with interest banks: problems and prospects', Journal of Research in Islamic Economics, l(l):3747.

____, 1986. 'Islamic economics, finance and banking theory and practice', Journal of Islamic Banking and Finance, 3(2):3654.

____, 1988. 'The performance of Islamic banks trends and cases', paper presented to the Conference on Islamic Law and Finance, convened in the University of London, 8 April.

Partadireja, Ace, 1974. 'Rural credit: the Ijon system', Bulletin of Indonesian Economic Studies, 10 (3): 5471.

Qureshi, Anwar Iqbal, 1946. Islam and the Theory of Interest, Lahore.

Rahardjo, Dawam, 1988. 'Islamic banking in Indonesia?' in M. Ariff (ed.), above.

Rahman, Fazalur, n.d. 'Riba and interest', Islamic Studies, Karachi, 3(l):l43. Ready, R.K., 198l. 'The march toward selfdetermination', paper presented at the First Advanced Course on Islamic Banks, International Institute of Islamic Banking and Economics, Cairo, 28 August l7 September.

Rosa, D.A., 1986. 'Islamic financial policies and domestic resource mobilisa tion', Savings and Development , 2:14353.

Salama, Abidin Ahmad, 1986. 'Utilisation of financial instruments: a case study of Faisal Islamic Bank (Sudan)', paper submitted to the Seminar on Developing a System of Islamic Financial Instruments, organized by the Ministry of Finance Malaysia and the Islamic Development Bank, Kuala Lumpur.

Scharf, T.W., 1983. Arab and Islamic Banks, OECD, Paris.

Siddiqi, M.N., 1982. 'Islamic Approaches to Money, Banking and Monetary Policy: A Review', in M. Ariff (ed.), above.

____, 1983a. Banking Without Interest, The Islamic Foundation, Leicester.

____, 1983b. Issues in Islamic Banking, Islamic Foundation, Leicester.

____, 1985. Partnership and Profit Sharing in Islamic Law, Islamic Foundation, Leicester.

____, 1988. 'Islamic banking: theory and practice', in M. Ariff (ed.), above.

Su'ud, M. Abu, n.d. 'The economic order within the general conception of the Islamic way of life', Islamic Review, London, 55 (2): 2426 and (3): lll4.

Udovitch, Abraham L., 1970. Partnership and Profit in Medieval Islam, Princeton University Press, Princeton, N.J.

Uzair, Mohammad, 1955. An Outline of `Interestless Banking', Raihan Publications, Karachi.

____, 1982. 'Central banking operations in an interestfree banking system', in M. Ariff (ed.), above.

Zaidi, N.A., 1987. 'Profit rates policy for PLS depositors', Journal of Islamic Banking and Finance, 4 (4): 3546.

Endnotes

1 Surah al-Rum (Chapter 30), verse 39; Surah al-Nisa (Chapter 39), verse l6l; Surah al-Imran (Chapter 3), verses l302; Surah al-Baqarah (Chapter 2), verses 2758l. See Yusuf Ali's Translation of the Qur'an.

2 Hadith compiled by Muslims (Kitab al-Musaqat).

3 This refers to a Hadith compiled by Muslims (Kitab al-Musaqat).

4 Bank Islam Malaysia Berhad has been offering a 70:30 profitsharing ratio in favour of depositors (Man 1988).

5 In 1984 the Islamic Bank of Bangladesh offered rates of return ranging from 4.95 per cent to l4.l3 per cent. The Faisal Islamic Bank of Egypt, Cairo, gave a 9 per cent rate of return on deposits in the same year (Afkar Inquiry, December 1985).

6 According to Sharia, profits arising from a mudaraba arrangement can be divided in any proportion between the two contracting parties as agreed upon at the time of the contract, but losses, if any, will fall on the financier only.

7 Some Muslim countries have recently introduced what are called 'Muqarada Bonds', the proceeds of which are to be used for incomeyielding public utility projects such as the construction of bridges and roads. The bond holders will have a share in the collection of tolls and other receipts.

8 Qirad, sometimes also called muqarada, refers to a financial arrangement whereby the financier gets a share in the output, as in the case of Muqarada Bonds (see footnote 7). In the literature, the terms qirad and mudaraba are often used interchangeably.

9 The market shares of the Islamic banks are close to 20 per cent in Egypt, Kuwait and Sudan and roughly l0 per cent in Jordan and Qatar. By contrast, in Turkey, Islamic banks account for less than 1 per cent of the market (see Nienhaus 1988).

Courtesy of Mohamed Ariff, University of Malaya


(c) 2001 Tjara Networks, Inc. All Rights Reserved.

 A B O U T   U S
Contact Us: 
   
Disclaimer