Journal of Economic Behavior & Organization 76 (2010) 805–820 Contents lists available at ScienceDirect Journal of Economic Behavior & Organization journal homepage: www.elsevier.com/locate/jebo How ‘Islamic’ is Islamic Banking? Feisal Khan ∗ Dept. of Economics‚ Hobart and William Smith Colleges‚ 300 Pulteney Street‚ Geneva‚ NY 14456‚ United States a r t i c l e i n f o a b s t r a c t Islamic Banks hold well over US $700 billion in assets and are growing at over 15% p.a. Islamic
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ScienceDirect Journal of Banking & Finance journal homepage: www.elsevier.com/locate/jbf Islamic vs. conventional banking: Business model‚ efficiency and stability Thorsten Beck a‚⇑‚ Asli Demirgüç-Kunt b‚ Ouarda Merrouche c a CentER‚ Department of Economics‚ Tilburg University and CEPR‚ The Netherlands World Bank‚ Development Research Group‚ United States c European Securities and Markets Authority‚ Economic Research and Financial Stability Unit‚ France b a r t i c l e i n f o Article
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INTRODUCTION TO ISLAMIC BANKING The term Islamic banking refers to a banking activity or a system of banking that is in consonance with the basic principles of Islamic Shariah (rules and values set by Islam). Islamic banking is also known as interest free banking system as the Shariah disallows the acceptance of “Riba” or interest rate for the accepting and lending of money. In Islamic banking system‚ a business that offers good interest rates or services is strictly prohibited and it
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Chapter 1 Introduction 1.1 Background Islamic legal principles regulate the conduct and content of commercial transactions in Islamic Banking. The most important of these principles is the prohibition of riba‚ any predetermined or fixed return in financial transactions. As stated in Quran: “Allah forbids riba and permits trade.” While there is much debate about the exact nature of this prohibition on riba‚ there exists a widespread perception that the ban on riba implies ban on interest
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„Worldview‟ is an English translation of the German term “Weltanschauung”. It is rendered in Arabic as“Ru‟yatu li al-wujud or Tasawur li al-wujud”‚ (زئيت نهىجىد ؤو حصىز نهىجىد Worldview Defined: A set of attitudes on a wide range of fundamental matters. A comprehensive set of propositions about various aspects of the world. A unified and comprehensive view of the world around us and man” place within it. Basic assumptions and images that provide a more or less coherent‚ though not necessarily
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Islamic Accounting Methodology Compiled By Dr. Hussien Shehata Prof. of Accounting Al-Azhar University In The Name Of ALLAH The Most Beneficien The Most Merciful Read : In name of the LORD‚ who created‚ Created man from a clot‚ Read‚ and they LORD is Most Bountiful‚ Who teaches by
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Islamic architecture encompasses a wide range of both secular and religious styles from the foundation of Islam to the present day‚ influencing the design and construction of buildings and structures in Islamic culture. The principal Islamic architectural types are: the Mosque‚ the Tomb‚ the Palace and the Fort. From these four types‚ the vocabulary of Islamic architecture is derived and used for buildings of lesser importance such as public baths‚ fountains and domestic architecture. * 3.1 Persian
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INCEIF The Global University in Islamic Finance Kuala Lumpur‚ Malaysia (CIFP) AL IJARAH THUMMA AL BAI’ (AITAB) (SH1003) Semester September 2012 Name: NORHADIYATUL AKMA BINTI JAAFAR Student No: 1200335 TABLE OF CONTENTS Abstract.....................................................................................................................................2 Key Terms of the Paper................
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BWFS3023 Islamic Accounting 2nd Semester 2012/2013 Short Essay Assignment Instruction Please answer all the questions below. The assignment should not less than 3 pages and not exceed 10 pages including references. Question 1 The differences between Islamic accounting and conventional can be seen in the context of the basis differentiation which is: (1) objective of providing information‚ (2) the type of the information that is identified‚ how it is measured‚ recorded and communicated
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IBEHAVIORAL ECONOMICS – EMOTIONS IN ECONOMIC DECISIONS Religion and Economics Can Islamic Banking be considered Rational? Emma Cornelis Corvinus University Budapest 12 May 2010 - Introduction - Classical economists ascribe complete rationality to the behavior of human beings. But do the things people do in life really make sense? According to the conventional ways of predicting human behavior and human choices‚ one would handle out of perfect self-interest and perfect rationality and
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