Islamic Banking and its Perspectives
Journal Title: International Journal of Academic Research in Business and Social Sciences - Year 2017, Vol 7, Issue 2
Abstract
In the recent years, the global banking system has experienced large aftershocks. The global economic crisis that began in 2008, and its consequences, succeeded to close down many large banking systems. On the other hand, Islamic banks made a great growth, and their bank assets according to estimates, are worth about 1,800 billion. The secret is not in the big oil reserves, but the system which they called "halal financing". This system is based on several basic premises, which are not of a great philosophy, but are not in compliance with the western system of financial manipulation. The prohibition of interest-based finance through the banking sector, spread the growing economic impact in the contemporary economic, social, political and globalisation area. The relevance of this study is contributing to the debate which concerns the possible relevance of Islamic Banking to the potential development and redefinition of conventional banking. Through analysing the pros and cons of this financial system based on the Islamic principles, it will be determined if it is able to play a leading role in revamping and driving the conventional banking.
Authors and Affiliations
Sasho Kozuharov, Jana Ilieva, Natasha Ristovska
Keywords
Related Articles
- EP ID EP603201
- DOI 10.6007/IJARBSS/v7-i2/2630
- Views 90
- Downloads 0
The Effect of Communication Channels used between Extension Officers and Farmers on the Adoption of Irish Potato Farming
This study was an investigation of the effect of communication channels used between extension officers and farmers on the adoption of Irish potato farming. The problem of this study was that past studies had limited foc...
Measuring Factors Affecting the Autonomy of Nurses Work
Research Aim: The research aimed to examine the factors that affecting the autonomy of nurses' work. Method: A cross sectional descriptive design was conducted in two of public hospitalsin KSA using a developed questionn...
Need Analysis of the Mobile Application Development Related to Al-Aqsa Mosque and Islamicjerusalem (Baitul Maqdis) as a M-Learning Medium
The public's tendency towards Palestinian related issues shows that communities, especially the Malaysians’, are keen to seek information on Palestine, particularly concerning al-Aqsa Mosque and Islamic jerusalem (Baitul...
The Effect of Switching Business Focus on Share Returns Predictability
The study aims to examine the announcement effects on shareholders’ returns among the Malaysia firms associated with decision of switching business focus during the study period of 2010 to 2015. In addition to apply an e...
The Effect of Tax Reforms on Tax Agents’ Job Burnout in Malaysia
Goods and Services Tax (GST) is part of the Government's tax reform programmed to enhance the efficiency and effectiveness of the taxation system. Tax agents play a vital role in enhancing GST compliance since they act a...