Theory and Practice of Islamic Banking: Financial Reporting Perspective

Abstract:     
Islamic banking was started in last quarter of 20th century to cater the needs of Muslims around the world. It has shown marvelous growth and expansion worldwide. In this chapter a brief overview is presented. This chapter covers why and how Islamic banking was established and what is its present state.

Learning objectives:

After going through this chapter reader should be able to understand and interpret the following:
Why Islamic banking?
How Islamic banking was developed?
What is present status of Islamic banking?
What are revealed injunctions about interest?
What are criticisms on Islamic banking?
What are silent features of Islamic banking?
What are differences in conventional and Islamic banking?
What are financing modes under Islamic financial system?

Number of Pages in PDF File: 42

Keywords: Islamic Banking, Islamic financial system, Comparative Study, Features of Islamic banking, Prohibition of Interest, Pakistan

JEL Classification: R11, G15, G21

working papers series