IDEAS home Printed from https://ideas.repec.org/a/aio/rteyej/v1y2013i21p18-25.html
   My bibliography  Save this article

The Islamic Banking - The Interest Free Banking

Author

Listed:
  • Lect. Sorina Botis Ph.D

    (Transilvania University of Brasov Faculty of Economic Sciences and Business Administration Brasov, Romania)

Abstract

The article provides an overview of the Islamic banking as a system of banking that is consistent with the principles of the Sharia law which prohibits the payment or acceptance of interest (“riba”) and speculative behavior. The Islamic banking industry has great potential for global expansion in order to continue its growth, with a growth rate of 25%-30% over the past five years, nearly double the growth rate of conventional banking. The largest centers for Islamic finance remain concentrated in Middle East but the Islamic banking is not limited to the Arab world. The UK as well as other Western European countries offers great opportunities to Islamic banking development, due to its largest Muslim community.

Suggested Citation

  • Lect. Sorina Botis Ph.D, 2013. "The Islamic Banking - The Interest Free Banking," Revista Tinerilor Economisti (The Young Economists Journal), University of Craiova, Faculty of Economics and Business Administration, vol. 1(21), pages 18-25, NOVEMBER.
  • Handle: RePEc:aio:rteyej:v:1:y:2013:i:21:p:18-25
    as

    Download full text from publisher

    File URL: http://feaa.ucv.ro/RTE/021-02.pdf
    Download Restriction: no

    More about this item

    Keywords

    Islamic banking; fully Sharia-compliant bank; conventional bank; Sharia-compliant assets; Islamic window; Islamic banking products and services;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aio:rteyej:v:1:y:2013:i:21:p:18-25. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ionascu Costel). General contact details of provider: http://edirc.repec.org/data/fecraro.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.