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A Review of the Principles of Islamic Banking System for Agriculture Credit

Author

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  • Khattak, Naeem Ur Rehman Khattak
  • Hussain, Anwar Hussain

Abstract

An attempt has been made in this paper to highlight the basis and principles of Islamic banks in general and particularly the agriculture banks for agricultural credit. Islamic financial techniques and their nature have been discussed. Murabaha, Mudaraba, Musharaka, Ijara Wa Iktina, Muqarada and Salam were observed the major Islamic financial techniques. The basic rules regarding Islamic finance have been mentioned. It was observed that Islamic banking system believes in assets based transactions. The challenges facing the Muslim ummah regarding Islamic banking were highlighted. It was also concluded that Islamic banking system is more effective in the distribution of income, reducing monopolies and curbing inflation as compared to conventional banking system.

Suggested Citation

  • Khattak, Naeem Ur Rehman Khattak & Hussain, Anwar Hussain, 2006. "A Review of the Principles of Islamic Banking System for Agriculture Credit," MPRA Paper 42038, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:42038
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    File URL: https://mpra.ub.uni-muenchen.de/42038/1/MPRA_paper_42038.pdf
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    Citations

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    Cited by:

    1. Bambang Waluyo & Sylvia Rozza, 2020. "A Model for Minimizing Problems in Salam Financing at Islamic Banks in Indonesia," International Review of Management and Marketing, Econjournals, vol. 10(2), pages 1-7.

    More about this item

    Keywords

    Review; Principles of Islamic Banking System; Agriculture Credit;
    All these keywords.

    JEL classification:

    • P0 - Political Economy and Comparative Economic Systems - - General
    • A10 - General Economics and Teaching - - General Economics - - - General

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