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Essay

Islamic Banking

Essay specific features

 

Issue:

Miscellaneous

 

Written by:

Vicky S

 

Date added:

December 3, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

22 / 5910

 

Was viewed:

2895 times

 

Rating of current essay:

 
Essay content:

Interest free banking is a narrow concept denoting a number of banking instruments or operations, which avoid interest. Islamic banking, the more general term is expected not only to avoid interest-based transactions, prohibited in the Islamic Shariah, but also to avoid unethical practices and participate actively in achieving the goals and objectives of an Islamic economy...
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The main banks in the home countries of the imperial powers established local branches in the capitals of the subject countries and they catered mainly to the import export requirements of the foreign businesses. The banks were generally confined to the capital cities and the local population remained largely untouched by the banking system...
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