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Islamic Banking - A $300 Billion Deception

By Muhammad Saleem

Islamic Banking - A $300 Billion Deception Business, Finance & Career

Islamic Banking - A $300 Billion Deception

By Muhammad Saleem

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Description
Islamic banks currently control about $300 billion in assets. This book assesses the underlying rationale of Islamic banking, that the Quran prohibits all forms of interest. The author maintains that, first, a correct interpretation of the Quran, keeping in mind the context, would indicate that what the Quran prohibits is usury -exorbitant interest. Second, Islamic banks do not practice what they preach; they all charge interest, but disguised in Islamic garb. Thus they engage in deceptive and dishonest banking practices.
The author also offers some policy recommendations, including the need for Ijtihad, Enlightenment, and critical thinking. Islamic banks, if they wish to practice genuine and authentic Islamic banking, should become more like venture capital firms.
Product details
Binding:
Paperback
Number of Pages:
72
Release Date:
2006-01-31
Publication Date:
2006-01-31
Publisher:
Xlibris
Languages:
Original: English
ISBN10:
1599268698
ISBN13:
9781599268699
Weight:
120 g
Height:
152 cm
Width:
229 cm
Thickness:
5 cm
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