Islamic Economics

EXECUTIVE SUMMARY The Banking organisation should, like tout ensemble former(a) aspects of the Moslem way of life, be made to leave high up to the movement of the major socio-economic goals of Islam. The trunk of rules should also overlay to carry through the accustomed functions that relate to its experience special theater of operations which different banking systems performs. near of the most heavy goals and function needful for an Muslim Banking system are socio-economic justice and equitable distribution of income and riches as well as the stability in the measure of specie to enable the medium of exchange to be a original unit of account. Conventional banking systems serve different purposes.  Banks aid in the transfer of resources from those who have excess to those that require spare resources to ramble their various job activities.  A bank, like each business, is in the business to make money. The banks were by and large restrain to the ca pital cities and the local anesthetic population remained largely unaffected by the banking system.  The local trade community avoided the foreign banks some(prenominal) for nationalistic as well as religious reasons.

  CHAPTER-01: excogitation Moslem Banking in the modern world, generally aims to promote and turn out the application of Islamic principles, law and traditions to minutes of financial, banking and related business affairs. It is also to promote investment companies to be engaged in such business activities that are acceptable and consistent at heart the Shariah precept. Islamic banks, by doing so, result safeguard the Islamic communities and societies from act ivities that are forbidden in Islam. The Ban! king system should, like all other aspects of the Islamic way of life, be made to contribute richly to the achievement of the major socio-economic goals of Islam. The system should also continue to perform the usual functions that relate to its own special field which other banking systems performs. Some of the most important goals and function necessary for an...If you want to get a bounteous essay, order it on our website: OrderEssay.net

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