The Experience of Bangladesh
Developments in Islamic Banking Practice: The Experience of Bangladesh examines global developments in the Islamic banking practice, and provides an in-depth analysis of the theory and practice of Islamic banking in Bangladesh, the third-largest Muslim country in the world, with over 150 million Muslims. This book is the first of its kind to examine Islamic banking principles and practices in Bangladesh on such a broad scale. Learners, teachers, researchers, and those practically involved in the burgeoning financial industry will derive value from this book. Readers from all disciplines will become familiarized with the key differences between the principles and practices of two distinct banking systems: the interest-free Islamic banking and the interest-based conventional banking. With the inclusion of citations from authentic references, a well-defined methodology of research, relevant data, tables and figures, coupled with the extensive field work and experience of the author in this sector, this book will serve as a reliable resource to understanding Islamic banking and finance as they function in the general world of finance, and in particular, Bangladesh.
... present some other historical evidence to show that commercial loans were
indeed common in the early Islamic society.115 In favour of this view, an
Egyptian scholar Shaikh Abu Zahrah pointed out that: There is absolutely no
evidence to support the contention that the Riba of al-Jahiliyyah (pre-Islamic Riba
) was on consumption loans. In fact, the loans for which a re- search scholar finds
support in history are production loans. The circumstances of the Arabs, the
position of Makkah ...