Islamic Financing Arrangements Used in Islamic Banking

Ehsan Zar Rokh

University of Tehran

April 2, 2007

Islamic finance is an old concept but a very young discipline in the academic sense. It lacks the required extent and level of theories and models needed for expansion and implementation of the framework provided by Islam. In these circumstances, unawareness and confusion exist as to the form of the Islamic financial system and instruments.

The main difference between the present economic system and the Islamic economic system is that the later is based on keeping in view certain social objectives for the benefit of human beings and society. Islam, through its various principles, guides human life and ensures free enterprise and trade. That is the reason why the conventional banker does not have to be concerned with the moral implications of the business venture for which money is lent.

Number of Pages in PDF File: 25

Keywords: Mushrika, Murabiha, Qarde Al'Hasana, Ijareh, Mudaraba

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Date posted: April 11, 2007  

Suggested Citation

Zar Rokh, Ehsan, Islamic Financing Arrangements Used in Islamic Banking (April 2, 2007). Available at SSRN: http://ssrn.com/abstract=978911 or http://dx.doi.org/10.2139/ssrn.978911

Contact Information

Ehsan Zar Rokh (Contact Author)
University of Tehran ( email )
00989183395983 (Phone)
HOME PAGE: http://www.ut.ac.ir
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