Islamic Finance
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Hijri Date |
Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law (Shariah) principles and guided by Islamic economics. In particular, Islamic law prohibits usury, the collection and payment of interest, also commonly called riba in Islamic discourse. Generally, Islamic law also prohibits trading in financial risk (which is seen as a form of gambling). In addition, Islamic law prohibits investing in businesses that are considered unlawful, or haraam (such as businesses that sell alcohol or pork, or businesses that produce media such as gossip columns or pornography, which are contrary to Islamic values). In the late 20th century, a number of Islamic banks were created, to cater to this particular banking market.
The first modern experiment with Islamic banking was undertaken in Egypt under cover without projecting an Islamic image for fear of being seen as a manifestation of Islamic fundamentalism that was anathema to the political regime. The pioneering effort, led by Ahmad El Najjar, took the form of a savings bank based on profit-sharing in the Egyptian town of Mit Ghamr in 1963. This experiment lasted until 1967 (Ready 1981), by which time there were nine such banks in the country.
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Islamic Finance News
 | KFH Automall Ramadan promotion records outstanding success |
The current KFH Automall promotion, "Uncover your Best Ramadan Offer", received a resounding response from the public, rocketing sales and increasing customers by over 80%. The campaign achieved its objective of allowing customers to buy their choice of cars easier, faster and cheaper. | |
| Malaysia's Maybank wants to grow Islamic finance business |
Malaysia's largest lender Maybank on Friday announced plans to expand its Islamic finance business in Singapore and Indonesia to tap the markets' demand for such services. | |
| Marc Issues Rating Update On Its A+ID/Developing Rating On Konsortium Lebuhraya Utara-Timur' |
MARC continues to monitor progress on expressway concessionaire Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd's (Kesturi) refinancing of its outstanding sukuk. | |
| European Finance House Undergoes Rebranding Campaign to Become QIB UK |
Qatar Islamic Bank's (QIB) subsidiary, European Finance House (EFH) has recently rebranded as QIB UK in order to reinforce its positioning within QIB's expanding global network. | |
| Ashurst advises ADIB and Al Hilal Bank on Emirates Steel's agreement |
Ashurst advised the Islamic Term Arrangers, Abu Dhabi Islamic Bank and Al Hilal Bank, in connection with Emirates Steel's US$ 1.1 seven year financing for the Emirates Steel Industries expansion project. | |
| Kuwait Finance House Launches KFH Personal Financing-i Hajj and Umrah |
Kuwait Finance House (Malaysia) Berhad (KFHMB), the first foreign Islamic bank in the country, has launched the KFH Personal Financing-i Hajj and Umrah today. |
- Dieser Artikel basiert auf dem Artikel Islamic-banking aus der freien Enzyklopädie Wikipedia und steht unter der GNU-Lizenz für freie Dokumentation. In der Wikipedia ist eine Liste der Autoren verfügbar.