Islamic Banking: A Brief Introduction
2012 Oman Law Blog of Curtis, Mallet-Prevost, Colt & Mosle LLP
7 Pages Posted: 9 Jun 2013
Date Written: July 31, 2012
This article is a brief introduction to Islamic banking. The article begins with an overview of Shari'ah supervisory boards. It then moves to the functions of Islamic banks. Thereafter, the article considers three banking models: (i) the two-tier mudaraba (service-capital partnership) model; (ii) the two-windows model; and (iii) the wakala (agency) model.
Keywords: Islamic banking, banking, Islamic finance, mudaraba, partnership, wakala, agency
JEL Classification: E40, E41, E44, F00, F02, F20, F2, F23, F30, G21, G24, G29
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