Iranian Islamic Banking

Posted: 11 Apr 2007 Last revised: 9 Mar 2010

See all articles by Ehsan Zar Rokh

Ehsan Zar Rokh

University of Tehran; Islamic Azad University (IAU) - Kermanshah branch, Students

Date Written: March 25, 2008


Iranian Islamic banking is a phenomenon that has taken many observers by surprise. The whole banking system has been Islamized in both Iran and Pakistan. In addition, there are some thirty Islamic banks in operation in other parts of the globe, including the Jeddah-based Islamic Development Bank (IDB) but excluding numerous non-bank Islamic financial institutions (see Appendix). What is more, the speed with which Islamic banks have sprung up and the rate at which they have progressed make it worth-while to study them systematically. An attempt is made in this paper 1. To survey the growing literature on Iranian Islamic banking, in particular 2. To trace the growth and development of Iranian Islamic banking, and 3. To highlight its salient characteristics

Keywords: riba, bank, mudarabeh,iran mushareca

Suggested Citation

Zar Rokh, Ehsan, Iranian Islamic Banking (March 25, 2008). European Journal of Law and Economics, Vol. 29, No. 2, 2010. Available at SSRN:

Ehsan Zar Rokh (Contact Author)

University of Tehran ( email )

00989183395983 (Phone)


Islamic Azad University (IAU) - Kermanshah branch, Students


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