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Modern Islamic Banking

Printed From: IslamiCity.com
Category: Religion - Islam
Forum Name: Islamic Finance
Forum Discription: Islamic Finance
URL: http://www.IslamiCity.com/forum/forum_posts.asp?TID=22644
Printed Date: 25 July 2014 at 4:36am


Topic: Modern Islamic Banking
Posted By: Ohmarski
Subject: Modern Islamic Banking
Date Posted: 09 February 2012 at 1:11am
Islamic Banking to succeed should be a combination of the operation of Islam's Baytul Mal and the Western Banking System, i.e., The Islamic Bank should be financed or funded by Zakat, Sadaqa, and depositors (those who keep their money in the Islamic Bank to be withdrawn sooner or later without interest); then the Islamic Bank should then help the people through lending/loans (without interest). This Islamic Bank should be operated or run by the Government so that all the money of the Islamic Bank is owned by the Government, and the Government is responsible to the Islamic Bank. The projects of the Government would be financed by the Islamic Central Bank. This way, the government is watched by the people closely, and corruption is removed from the government. This is the Islamic Government.



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