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The concept of Islamic banking from the Islamic worldview

Mohd Yunus, Saidatolakma and Kamaruddin, Zuraidah and Embong, Rahimah (2018) The concept of Islamic banking from the Islamic worldview. International Journal of Academic Research in Business and Social Sciences, 8 (11). pp. 539-550. ISSN 2222-6990

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Islamic banks are required to run their business activity with full conformity to Shariah. They should not borrow money on interest nor keep their surplus cash in interest bearing account as well as should not involve in any prohibited business deals. Even if the business activities are permissible, the borrowings may be based on riba (usury), the surplus is kept in interest bearing accounts and so on. Hence, this article aims to offer an alternative to liberate Muslim investors and small managers from the sinful action of dealing with those banking business activities.

Item Type: Article (Journal)
Additional Information: 7324/70439
Uncontrolled Keywords: Islamic banking, Shari’ah compliance, Islamic banking activities
Subjects: H Social Sciences > HG Finance > HG1501 Banking
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button): Kulliyyah of Islamic Revealed Knowledge and Human Sciences > Department of Fiqh and Usul al-Fiqh
Depositing User: Saidatol Akma Mohd Yunus
Date Deposited: 26 Feb 2019 16:24
Last Modified: 12 Jul 2019 16:29
URI: http://irep.iium.edu.my/id/eprint/70439

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