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Is the concept of Islamic banking in line with Islam?

Posted on 21 October 2009

From Thestar.com.my: One of the most contentious issues regarding Islamic banking and finance is whether the whole concept is in line with Islam. On one side are sceptics who argue that there is no difference between Islamic banking and conventional banking. To them Islamic banking is simply conventional banking in Islamic garb.

The argument often offered by this group is the practice in Islamic banking of using interest rates in the calculations of the “selling price”…………………..Full Article: Source

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Laxman - who has written 19160 posts on Opalesque Islamic Finance Briefing.


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