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characteristics of interest-free banks and conventional banks. The analysis extends to various financial dimensions which evaluate … performance, namely: liquidity, leverage, credit risk, profitability and efficiency. The study covers fifteen interest-free banks … and fifteen conventional banks. The statistical evidence suggests that the two group of banks may be differentiated in …
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There is a vast literature on regulatory, monetary and institutional aspects of traditional banking system. This is not true for the interest-free Islamic banking framework. In this paper, the functions and tools of central banking in an Islamic framework are evaluated, and suggestions for...
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This paper investigate conditions under which equity funds can be sustainable source of budget deficit financing in an interest free economy. Our findings show equity fund can be sustainable source of deficit financing when the rate of return on equity fund exceeds the budget deficit expansion...
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The rate of interest has been a highly complex and important phenomenon since long. For this reason, it has entered into all economics and related literature. For instance, though not an economist, Aristotle had a view on it and in fact considered it immoral. His reasoning was very simple:...
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The book is made up of an introduction, a conclusion and eight chapters. The first chapter deals with the historical development of Islamic banking. The second chapter discusses the prohibition of riba in the Qur'an, Sunnah and Islamic law (fiqh). Chapter three deals with the modern...
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